In 2015, Magnolia Bostad won a land allotment completion for the properties, which are part of the Maria station development project, and entered a land allotment agreement with the municipality. Magnolia Bostad is developing the project in its entirety and the new homes will be will be environmentally certified according to the Swedish environmental standard Svanen. The buildings will be built by Veidekke Entreprenad AB and construction is estimated to start this fall.
The land transfer agreement is expected to go into effect within approximately four weeks and is a prerequisite for the agreement with SPP Fastigheter.
Magnolia Bostad Signs Agreement with Helsingborg and Sells 345 Rental Apartments
Sweden —
Magnolia Bostad has signed a land transfer agreement with the Helsingborg Municipality concerning the properties Antikvarien 1 and Arkeologen 1 in Maria station, Helsingborg. Magnolia also signed an agreement with SPP Fastigheter AB concerning the sale of 345 rental apartments that are to be developed on the properties. The property value at completion amounts to approximately MSEK 550 (€60M).
2016-03-23
Nicklas Tollesson
[email protected]