Swedish property firms Victoria Park and Trianon have signed an agreement to acquire a property portfolio of 722 apartments and a number of commercial units in Lindängen, Malmö, Sweden, via a share deal worth SEK 795 mln (€80 mln).
The portfolio, with a rentable area of 47 700 m2, was bought from landlord Willhem. Closing of the deal is expected for March next year.
The assets were recently renovated and are fully let.
Victoria Park and Trianon are paying a total of SEK 551 mln for the shares in the company owning the asset, with Trianon taking a majority stake and eventually taking ownership of over 400 of the 722 assets. The buyers will finance the acquisition with existing cash and new debt facilities.
'The properties are in close proximity to our existing housing stock at Lindängen and we consider this a strategic opportunity to increase our presence in the area and will provide further efficiency in the management,' said Trianon's CEO Olof Andersson.
