The transaction includes Väppeby 7:255; 7:256; 7:257 with a total area of just over 14,000 square meters of living space spread over three buildings. The property consists of homes with between one and four rooms and a kitchen with an average size of 49 square metres, as well as 165 parking spaces and two commercial premises. The property is well located in an attractive residential area with proximity to Bålsta Centrum and the commuter train station and nature area.
The project, which was completed in the summer of 2023, was built with investment support. The acquisition takes place via the Nordics' largest core-plus fund Nrep Income+, which recently completed a successful third closing with approximately SEK 3.1 billion in capital. The property maintains a high sustainability standard with geothermal heating and solar cells installed and is expected to be certified according to BREEAM In-Use Very Good.
"Through this acquisition, we continue to drive positive change in the real estate industry and address the major challenges it faces, including the strong need for housing. SPG has done a fine job with the property and we have the ambition to continue reducing the carbon footprint and energy intensity through to install additional solar cells and create more charging options for electric cars," says Carl-Adam von Schéele, Swedish head of Nrep.
This is Nrep's first housing project in Bålsta, but the company already has a strong presence via its logistics operation Logicenters and, for example, the facilities developed for Dagab and Dahl. Through the large concentration of logistics projects in Bålsta, strong employment growth is expected with approximately 2,000 new job opportunities that require more housing.
"We are very pleased that Nrep, which is a long-term owner and also already established in the town, is acquiring these newly produced homes. SPG acquired the project in 2017 and has now completed all homes, both rental properties and condominiums," says Carl Zetterqvist, CEO of SPG in Sweden.
Nrep is a long-term real estate investor that owns, develops and manages with a focus primarily on housing, modern logistics and community properties as well as offices. In recent years, the company has expanded strongly within housing in Sweden and now has a portfolio of approximately 3,700 housing units under development in various phases. In addition, Nrep recently acquired the majority in the housing company Klövern, with the ambition to reach around 2,000 - 3,000 construction starts per year within a few years, making the company one of the largest housing developers in Sweden.