Michael Moschewitz, CEO of Genova, and Ilija Batljan, CEO of SBB.
Image: Genova/SBB
Sweden —
SBB and Genova have jointly acquired Nackahusen Holding in Nacka Strand consisting of initially six properties containing building rights of approximately 40,000 sq.m. The purchase price for the shares amounts to SEK 1 and the joint venture company will take over responsibility for the outstanding bond loan of approximately SEK 360m. The intention is for the parties to develop both rent regulated apartments for long-term management and condominiums.
Nackahusen Holding has previously sold properties and the payment attributable to this will be settled in November 2020 of approximately SEK 50m and a further almost SEK 120m when the detailed plan has gained legal force.
The jointly owned company will then control properties and building rights of approximately 30,000 sq m of BTA to an underlying property value of approximately SEK 190m.
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