The reason behind Gavlegårdarna's divestment is mainly to free capital for new productions.

"We are glad that IHP Bostad is coming to Gävle and we feel like they are a serious buyer that just like us, aim to be a good landlord with ambitions to contribute to further development for Gävle" says Cathrine Holgersson, CEO at Gavlegårdarna.

IHF Bostad owns approximately 2,000 condominiums at a value of approximately SEK 2 billion (€215M). This is the fourth time that the company purchases residences from a Swedish municipality.

The intention is to significantly increase their portfolio until 2020 with the goal to become one of Sweden’s leading residential managers.

"The purchase is a part of our long-term strategy to grow within the residential segment. The portfolio is overall a good management unit and creates a great platform for further growth in the municipality. We view Gävle’s future very positively and look forward to a continued cooperation with Gavlegårdarna" says Henrik Jussi-Pekka, CEO at Möller & Partners.

NAI Svefa was the seller´s advisor.