The sale is taking place as a corporate transaction and refers to the Haninge Söderbymalm 3:541, 3:542 and 3:543 properties. The project, that has a zoning plan in force, consists of apartment blocks in two areas with residential units, commercial premises and a garage. A turnkey contract has been signed with Consto and the buildings will be certified in accordance with the Swedish Green Building Council’s silver certification. After the sale and handover of the project, Magnolia Bostad has a project management agreement with the buyer that runs until occupancy. The project management agreement is invoiced and revenue reported on an ongoing basis.

"We are pleased with the acquisition in Haninge, and we have the opportunity of contributing to the municipality's growth and attractiveness, while we broaden our portfolio and strengthen our presence in the Stockholm region. The production also reflects our environmental focus as the property will be built according to the Swedish Green Building Council’s silver certification,” says Tom Rasmussen, Senior Investment Manager at Heimstaden Bostad.

"This will be another project where we are building attractive housing with Heimstaden Bostad, both close to nature and with good public transport. It is exciting to see how our collaboration is growing, and we are now developing a lot of residential units around Sweden," says Björn Bergman, Eastern Regional Manager.

The housing project is close to nature with a foot- and cycle bridge to Rudan recreation park near the housing project. It is also in walking distance to Haninge Centrum and the commuter train station, from which Stockholm city centre can be reached in 30 minutes. Development of the project began as a development for self-management, which means that the profit from the transaction will be reported as change in value of investment properties.