Real estate investor Nrep has acquired two apartment complexes in Stockholm, Sweden, from Mangolia Bostad.
These properties offer a total of 524 rental homes and are situated in the Ångloket neighborhood in Knivsta and the Brogårdsstaden district in Upplands-Bro.
The acquisition was made through the Nrep Income+ fund, which focuses on modern logistics facilities, rental housing, and care homes in the Nordics. The fund completed a third closing last year with just over SEK 3.1 bn (€272.7 mln) in capital raised.
Carl-Adam von Scheele, head of Sweden at Nrep, said: ‘This acquisition is enabling us to meet our goal of expanding our residential portfolio in the Stockholm region, which is experiencing exponential demand for rental accommodation. The properties have a high sustainability performance that meets our requirements and we look forward to managing them in a successful and long-term way.’
Both locations will be certified under the Swedish Green Building Council’s Silver standard. Notably, these properties feature timber building materials, geothermal heating, and solar cells, contributing to their environmentally friendly profile.
The homes in the Brogårdsstaden district include fully leased residential blocks with a wooden frame, designed to reduce carbon emissions during construction and throughout the buildings’ lifecycle. The block has a lettable area of 6,065 m2 spread over 112 rental apartments completed in August 2022.
Meanwhile, Ångloket in central Knivsta will consist of 412 modern, space-efficient rental apartments, spread across 17,310 m2, with the final phase expected to be completed in Q1 2025.
