NREP Sells Back Karlastaden to Serneke
Sweden NREP sells its 50 percent share of the Karlastaden development project in Gothenburg back to Serneke.
NREP announced the disposal of its 50 per cent interest in the Karlastaden real estate development project in Gothenburg to its joint venture partner Serneke AB for MSEK 600 (EUR 58M).
The Karlastaden real estate development project encompasses approximately 240,000 sqm building rights for residential, retail and office space in Gothenburg, the second largest city in Sweden.
“During the last 2.5 years NREP and Serneke have in joint venture progressed the Karlastaden project past key milestones. It was now the right time for NREP to exit and let Serneke take the project forward”, comments Rickard S. Dahlberg, Partner at NREP in Stockholm.