Swedish private property firm Stendörren has acquired a portfolio of 1,528 residential units in Husby, near Stockholm from listed property group Wallenstam for SEK 875 mln (EUR 100 mln).
Swedish private property firm Stendörren has acquired a portfolio of 1,528 residential units in Husby, near Stockholm from listed property group Wallenstam for SEK 875 mln (EUR 100 mln).
'This is a significant purchase for the Swedish residential market and is a reflection of the current aggressive demand from investors looking to acquire quality residential products outside Stockholm city. The property offers great potential and will make a superb new addition to our client's expanding residential portfolio,' said Ulf Nilsson, CEO of Savills which advised the buyer.
Wallenstam bought the assets back in 1996 and has since worked to improve the quality of the properties.
Stendörren, which is led by Knut Pousette, owns 10 assets, including seven in the Stockholm area, and three in Linköping, Nyköping and Uppsala.
The deal also gives Wallenstam the potential to acquire development rights for around 200 apartments in Tyresö. The assets will be transferred to the company on July 1.
Wallenstam said the deal reflects its strategy to invest in new developments. 'We have an ambitious project for the construction of new rental apartments in the Stockholm area,' said CEO Hans Wallenstam.
