Heimstaden Acquires Ståhl Fastigheter for EUR 162M

Sweden — Heimstaden has agreed to acquire Ståhl AB (formerly Kretia). The portfolio consist of approximately 90,000 square meters and is distributed to about 45 000 sq.m. in Norrköping and about 45 000 sqm in central Uppsala.<br />

2017-03-15

The property portfolio in Norrkoping consist mostly of residential housing properties, and the portfolio in Uppsala consists of about 40 000 square meters of commercial space, mainly offices and a hotel property.

The acquisition also includes buildable land in both Norrköping and Uppsala. The agreed value of the property, including land, amounts to EUR 162M.

Financing of the properties is expected to be approximately 60 per cent of bank loans and the remainder with own cash. The transaction is an asset transaction via companies.

”I am proud, happy and extremely grateful that Heimstaden had family Ståhls confidence to continue to develop these properties in the future," says Patrik Hall, CEO at Heimstaden.

Completion will take place May 31st.