The new housing property company is primarily oriented towards investments in new productions of rental units in growth areas in Sweden. Other than the three metropolitan regions, growth areas with a positive population development are in focus.
Balder and AP 3 will own 50 percent of the company each.
 
The deal is based on the approval from the Competition Authority and the deal’s fulfillment is estimated to Q1 2016. 

“We have to take it one step at a time. First and foremost the deal has to be approved, then we can start doing business. The good thing here is that AP 3 has the same long-term approach as us. This creates many interesting possibilities” says Erik Selin.

How will this company be managed?
“We will manage the company from here short-term, but eventually we plan on creating an independent company with skilled employees.

AP3 are among other things main owners in Hemsö and own 25 percent of Vasakronan. This is AP3’s first exposure towards housing.

“We see good possibilities in developing our Swedish real estate portfolio with housing, together with Balder which is a well established company within the sector. The strong population growth that is expected in Sweden also means an increased need of housing productions” says Kerstin Hessius, CEO at the Third National Swedish Pension Fund.