The acquisition is subject to an approval by the General Assembly of Ringertoften.

"We hope that the General Assembly will vote in favor of a sale to us so we are able to welcome many new tenants to Heimstaden. Ringertoften fits very well into our portfolio and we look forward to developing both the property and the relationship with the residents of the future," says Magnus Nordholm, vice president of Heimstaden.

The transaction value of the deal is approximately EUR 66M and the transfer is scheduled for August 1st, 2018, granted an approval.

Gorrissen Federspiel is Heimstaden's advisor in the transaction.