The agreement means that Balder acquires twelve investment properties in Malmö and Landskrona, as well as apartments primarily in Karlatornet. The investment properties are all commercial properties mainly around Malmö Arena in Hyllie. 

"Balder has had a good collaboration with Doxa and Serneke for many years. Through this agreement, Balder’s property portfolio is complemented by a number of fine investment properties,” says Balder’s CEO Erik Selin.

The transactions total value is approximately EUR 0.33 billion, of which the investment properties amount to approximately EUR 0.24 billion. The investment property portfolio acquired by Balder has a rental value of approximately EUR 15 million. The transaction will increase Balder’s net debt with approximately EUR 0.22 billion.

In addition, previous Serneke CEO Ola Serneke has acquired, through companies, certain non-strategic assets within the Doxa Project Development business area for a total value of approximately EUR 17.5 million. The majority of the payment is made by promissory note.

The transactions have been carried out at book values ​​as of the end of September 2024 and mean that assets have been divested for a total of approximately SEK 4.0 billion, EUR 0.35 billion. As a result of the transactions, a total of approximately EUR 0.31 billion in liabilities within the Doxa Group will be amortized, and the company's liquidity will be strengthened by approximately EUR 26 million. The transactions will have no impact on Doxa's earnings.
“Through these two transactions, we are significantly reducing the debt in the Doxa Group and we can focus on creating value through the large project portfolio that we own in 2025,” says Greg Dingizian, Chairman of the Board of Directors of Doxa.