The properties are located in Södra Råbylund in the eastern part of Lund and have a unique location in the city with proximity to both Råbysjön and Lundaslätten. The project consists of 12 houses with four to six floors and will be certified in accordance with Miljöbyggnad Silver.

Build Contract has already been signed with Serneke and construction is expected to start in the autumn of 2020 where the first stage is ready for tenants in 2023.

The project is the second acquisition within the framework agreement signed with Magnolia. The framework agreement means that Heimstaden Bostad will acquire housing projects comprising 14 projects of approximately 5,300 apartments by Magnolia Bostad, valued at approximately SEK 9.6 billion.

“We are pleased to be able to continue to realize our framework agreement with another fine project that will strengthen our presence in Lund with high quality rental apartments,” says Tom Rasmussen, Senior Investment Manager, Heimstaden.

“A great project that we look forward to being involved in and we are pleased to once again collaborate with both Magnolia and Serneke,” says Sara Macdonald, Head of Asset Management, Heimstaden.