Magnolia Acquires Land for the Development of Ursviks Torn

Sweden Sweden — During June Magnolia Bostad acquired land in Ursvik, Sundbyberg for the development of Ursviks Torn, which will consist of around 180 residential units of about 10,500 sqm GFA and about 370 sqm for commercial premises. The number of acquired building rights was included in the reported number of building rights in Magnolia Bostad's half-year report.

Magnolia Bostad to Convert Conference Centre into a School

Sweden Sweden — Magnolia Bostad has acquired Täljöviken's conference centre in Österåker municipality and will develop it into a modern attractive F-9 (compulsory) school for about 800 students.

CBRE GI Acquires Residential Units for SEK 538 Million

Sweden Sweden — Magnolia Bostad has sold 200 rental residential units in the Västra Ursvik district in Sundbyberg to CBRE Global Investors. The project consists of around 12,500 sqm GFA for accommodation as well as around 300 sqm GFA of commercial premises and 73 garage spaces. The estimated property value upon completion is around SEK 588 million.

Magnolia and Heimstaden in New Transaction

Sweden Sweden — Magnolia Bostad signs an agreement to sell the Västra Erikslid project in Skellefteå municipality to Heimstaden Bostad. The project involves the development of approximately 300 residential units of 21,000 sqm GFA. Estimated property value at completion is about MSEK 475.

Heimstaden Buys Project Property in Sundsvall

Sweden Sweden — Heimstaden Bostad AB has from Magnolia Bostad acquired the first stage in Norra Kajen, Sundsvall Municipality. The project includes the development of 360 apartments and the property value upon completion will amount to approximately MSEK 670.