The transaction covers approximately 25,000 square meters of housing, just over 600 apartments, which will be erected as rental apartments in Spånga, within the City of Stockholm. Access takes place when the detailed plan gain legal effect and the buyer finances the construction during the development of the project.
"Slättö with its expertise in housing development complements our regular activities in an excellent way and has been creating value in the process of refining and executing the first phase of this project," says Sven-Olof Johansson, CEO of Fastpartner.
"With this deal, we have developed a new relationship with Barings, which feels positive for future collaborations and business, they are a strong and skilled partner," says Johan Karlsson, CEO of Slättö.
Wistrand and Bird & Bird have been legal advisors in the transaction.
Barings Makes Large Swedish Acquisition
Sweden — Slättö has, within its seventh fund, Slättö VII, where the fund operates a joint venture together with Fastpartner, agreed on the sale of housing at an underlying value of SEK 1.32 billion (EUR 127M). The buyer is a fund managed by Barings.