Swedish student-focused property company Studentbostäder i Sverige has acquired 1,443 student housing units in the city of Lulea, Sweden from sustainable developer Lindbäcks Fastigheter.
The portfolio covers a total of about 41,524 m2 of lettable area in the Porsön neighbourhood with an underlying property value of approximately SEK 1.1 bn (€100 mln).
'Every year, over 15,000 students study at Luleå University of Technology. Porsön is today one of the most attractive and rapidly expanding neighborhoods north of Luleå centre distinguished by its university, student areas and many firms in the technology industry,' said Rebecka Eidenert, CEO of Studentbostäder.
According to both parties, Lindbäcks will work with Studentbostäder on further developing stock in the city. Housing-focused Lindbäcks specialises in developing and building industrially produced multi-family assets crafted from wood sourced in Sweden's northern forests.
Pangea Property Partners advised Lindbäcks Fastigheter on the sale, while the buyer's advisor was Colliers International and Glimstedt.
