The transaction is carried out in the form of a company through a so-called forward commitment scheme and is based on an underlying property value of SEK 535 million. At the beginning of the agreement, Amasten pays five percent of the purchase price and pays the remaining purchase price upon access to the properties in each stage.

The project comprises three stages of about 100 apartments each. The seller undertakes to be the client and will hand over a turnkey product to Amasten. Stage 1 will be completed at the end of 2023 and stages 2 and 3 in 2024. Upon completion, the rental value is expected to amount to approximately SEK 24.5 million.

"We are happy for the opportunity to acquire high-quality housing in an attractive location from a driven local contractor. Karlstad is an attractive regional city with strong population growth. Through the acquisition, we will more than double our property portfolio in Karlstad to close to 550 apartments, which will provide synergies in the management and mean that we will become a major player in the local market," says Mikael Rånes, CEO of Amasten.