Private Swedish housing specialist Rikshem has signed an agreement to acquire 800 apartments in Umeå, Sweden, from vendors comprising Lerstenen Invest, Areim Estate 3 and Blackstone-managed real estate funds.
The transaction volume was not revealed.
The deal includes 23 residential properties with a total lettable area of 63,000 m2, with completion scheduled for 31 January 2017.
'Rikshem ended 2016 with a deal that perfectly matches our strategy to grow in attractive growth markets where we already are. In addition, it is also gratifying that, despite a challenging year for the company, has managed to make acquisitions of over SEK4 bn, while we had 820 apartments under construction and will have completed 560 apartments in 2016. We look forward to a very interesting 2017,' commented Sophia-Linnala Mattsson, CEO of Rikshem.
After the acquisition Rikshem will have approximately 1400 apartments in Umeå making the firm the city's largest private housing landlord.
