Magnolia Sells to Slättö

Sweden Sweden Magnolia Bostad signed an agreement for the sale to Slättö of around 650 residences in Bro, Upplands-Bro municipality. The value at completion is expected to amount to around EUR 113M.

2018-07-06

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The sale to Slättö relates to the first stage of the new residential area Tegelhagen in Bro. The zonal plans have come into force. Construction is expected to start in the autumn of 2018 and the first occupancy is planned for 2020. Magnolia Bostad will develop and run the project until the houses are ready for occupancy. Revenue recognition will occur during the second quarter current year.

"We are really pleased to acquire energy efficient and attractive housing in Greater Stockholm, which has a major housing shortage regarding affordable rental apartments. We intend to seek the improved investment aid within the project, in order to offer newly created residences that can be demanded by the vast majority," says Johan Karlsson, CEO at Slättö.

"We are very pleased to develop, together with our partners, climate-smart residences with a pleasant design in this beautiful area," says Fredrik Lidjan, CEO at Magnolia Bostad.

Wigge & Partners has acted as legal adviser to Magnolia Bostad. Pangea Property Partners has acted as financial advisor and Wistrand Advokatbyrå has acted as legal advisor to Slättö.




Maria Olsson Äärlaht
maria@nordicpropertynews.com




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