ARTICLES TAGGED WITH "Erik Selin"

Sharam Rahi about the journey from Iran to Balder

Nordic — Balder's Deputy CEO, Sharam Rahi, participated in Nordic Property News event Stora Kontorsdagen Gothenburg. There he talked about his family's flight from Iran, when he first came in contact with the real estate industry and how he and Erik Selin came to lay the foundation for one of Sweden's largest real estate companies over coffee and cigarettes.

Erik Selin on Balder's 2024: "Net sales of building rights – maybe some investments"

Sweden Sweden — Balder's CEO Erik Selin predicts a quiet 2024 for the company, which in many ways will be similar to their 2023. There are no project starts planned during the year, and he also does not see much activity ahead of him in the transaction market, although he believes that as a whole the market will thaw more during the course of the year.

Balder in transaction with Serneke

Sweden Sweden — Balder buys a hotel building in Karlatornet and sells building rights in Barkarby to Serneke.

Serneke and Balder sell 151,000 sqm of building rights in Karlastaden to Framtiden

Sweden Sweden — Serneke and Balder sell approximately 151,000 square meters of building rights in Karlastaden to Gothenburg's public property group AB Framtiden. The deal consists partly of two blocks that are transferred to 100 percent, and partly of four blocks that are transferred to 74 percent, with Serneke and Balder as continuing co-owners of 26 percent. The purchase price amounts to approximately SEK 1 billion and also includes a unilateral option to buy back the building rights in the four part-owned blocks no later than September 2027. The deal is expected to have a neutral profit effect for Doxa.

Erik Selin acquires properties from Oscar Properties

Sweden Sweden — Oscar Properties has entered into an agreement to sell the underlying property portfolio in a number of wholly-owned subsidiaries to Erik Selin Fastigheter for a purchase price of approximately SEK 2.2 billion with access as soon as possible. The acquisition is only conditional on the buyer receiving financing by January 18, 2024 at the latest, Oscar Properties writes in a press release.

The future for Oscar Properties after the major deal with Selin

Sweden Sweden — On Monday Oscar Properties announced that they have sold the DNB portfolio for SEK 2.2 billion to Erik Selin Fastigheter. This is likely not the last thing Oscar Properties does in terms of disposals – the company has 36 properties left in its ownership and CEO Carl Janglin tells Nordic Property News that more sales will likely follow. He also comments on the additional measures the company is looking at such as a further slimming of the organization and a possible corporate restructuring.

The heavyweights' different views on Entra holdings – Balder sees no need for a write-down

Nordic — Entra's two largest owners, Castellum and Balder, both submitted their Q3 reports on Friday, and there it appeared that they have different views on their holdings in the Norwegian real estate company. Castellum has chosen to make a write-down of close to SEK 0.5 billion, while Balder has chosen to leave the value unchanged. Balder’s CEO Erik Selin comments on Balder's view of the Entra holding and shares his view of the bond market.

Milestone reached for Karlatornet – long interview with Ola Serneke and Erik Selin

Sweden Sweden — The time has come for the first people to move into Karlatornet, the Gothenburg skyskraper that is the tallest building in the Nordics. For some, the wait has been long – especially for Ola Serneke. Nordic Property News was present when a tour of the entrance and the viewing apartment on the 25th floor was given. Balder's CEO Erik Selin was also in the apartment, who, like Ola Serneke, gave his view on the situation going forward.

Balder's CEO is considering fragmenting

Nordic — Building housing is only favorable in certain locations and certain countries, says Balder's CEO Erik Selin when he participates in the capital market days in Båstad. At the same time, he stressed the importance of seeing that the "crisis" that many people think they see is only a blip in an otherwise upward curve. "It's just a matter of parrying that blip," he says. But that Balder will remain in its current form is far from obvious if the CEO himself is to be believed.

Erik Selin: "Buying Entra Is too Dangerous Right Now"

Nordic — Balder has no plans to change its ownership in Entra, and CEO Erik Selin sees it as too dangerous to buy up the entire company, although he believes that the company's stock is "extremely cheap" right now. Here he also tells how he sees the future of the company's rating from S&P, which in 2022 wrote down the outlook for the company's BBB rating to negative.

SLP Ready to Increase its Transaction Pace

Sweden Sweden — Fast-growing SLP makes changes in the management group. CFO Tommy Åstrand takes over as CEO while the current CEO, Peter Strand, steps in to a new role as working vice chairman. Peter Strand tells Nordic Property News about the changes, about SLP's ambitions for 2023 and about the possibility of expanding outside Sweden.

SLP Makes Change in CEO

Sweden Sweden — The nomination committee proposes Peter Strand as the new executive vice chairman of the Board as of the Annual General Meeting. As executive vice chairman, Peter Strand will, in addition to his board assignment, and as an employee of the company as transaction and strategy manager, have a particular focus on property acquisitions and assist the Board and management in strategic matters. Tommy Åstrand, current CFO for SLP, will succeed Peter Strand as CEO after the Annual General Meeting on April 26, and Matilda Olsson, current finance director, will simultaneously take over as CFO.

Erik Selin: "We Can Keep Away From the Bond Market Until 2026"

Sweden Sweden — Balder was one of the real estate companies that advanced the most on the stock market during Friday's trading, this after the company released its financial statements for 2022. During the presentation, CEO Erik Selin commented on his view on the bond market, the credit appraisers' view of the company and what we can expect from Balder on the transaction market in 2023.

Balder Increases Ownership in Next Step Group

Sweden Sweden — Next Step Group is selling its part of property holdings in Nya Hovås to Bygg-Göta Fastigheter. Meanwhile, Fastighets AB Balder and Jacob Torell are increasing their ownership in Next Step Group.

S&P Confirms Balder’s Credit Rating BBB

Sweden Sweden — S&P confirms Balder’s credit rating BBB but Changes Outlook from stable to negative.

Why Balder Expects Lower Investment Figures in 2023

Nordic — After an extended period of sizeable investments, Erik Selin believes Balder will have significantly lower figures in 2023. The Balder CEO expands on his thoughts on investments and comments on the possibility of Balder looking at a SBB-model of spinning off part of the company into a new entitiy.

The Targets for the New Swedish Residential Company

Sweden Sweden — A new company enters the Swedish housing market. With a strong team behind it, Covitum takes the first step with an investment in Boden. The CEO and founder Ingvor Sundbom tells Nordic Property News about the venture, the growth ambitions and about Balder’s Erik Selin joining as the main owner.

Karlatornet Is Now the Tallest Building in Scandinavia

Sweden Sweden — After reaching 193 meters, Balder and Serneke's Karlatornet in Gothenburg, which is still under construction, is now the tallest building in Scandinavia.

Balder’s Associated Company Trenum Sells Properties to the Swedish Fortifications Agency

Sweden Sweden — Both of the properties for police operations in Sörentorp that Fastighets AB Balder has managed since 2014 are now being sold to the Swedish Fortifications Agency.

Balder and Stockholms Travsällskap in New Collaboration on the Development of Solvallastaden

Sweden Sweden — Fastighets AB Balder and Stockholms Travsällskap (Stockholm Trotting Society) are starting a joint venture company with the intention of developing a further three blocks and 500 apartments in Solvallastaden.

Ewa Wassberg Appointed New Head of Finance at Balder

Sweden Sweden — Balder has appointed Ewa Wassberg as the new Head of Finance. She joins Balder from Fabege and replaces Marcus Hansson, who left the company due to the ruling regarding insider trading in the Collector share.

After the Prison Sentence: Balder's Head of Finance Resigns

Sweden Sweden — Marcus Hansson leaves his employment at Balder. CEO Erik Selin: "I am disappointed and surprised by the verdict."

Balder's Ambitions for the Hot Segment

Nordic — Balder has started to list industrial and logistics as its own property category in the financial reports. CEO Erik Selin explains why and shares his view of Balder’s growth ambitions in the scolding hot segment.

Balder Completes New Acquisition in Gothenburg CBD

Sweden Sweden — Balder adds new piece to their Gothenburg portfolio.

Balder and Next Step Group to Develop New Logistics Hub

Sweden Sweden — Link40 is the name of a new, major goods and logistics hub that the property company Balder and the urban developer Next Step Group is establishing in Mölnlycke.