Swedish life insurance group SPP has agreed to acquire 345 rental apartments to be developed in the west of the country.
Swedish life insurance group SPP has agreed to acquire 345 rental apartments to be developed in the west of the country.
SPP Fastigheter (SPP Real Estate) is to acquire the homes from listed developer Magnolia Bostad in a transaction that values the properties at SEK 550 mln (€60 mln).
The apartments are part of the redevelopment taking place around the Maria station development project in the city of Helsingborg. Magnolia Bostad has acquired the land for the project from the local municipality and has contracted Veidekke Entreprenad to complete apartments to the latest sustainability standards in Sweden. Construction is estimated to start in autumn 2016..
