Magnolia Bostad Forms Joint Venture with SBB – Acquires Residential Projects

Sweden Sweden — Magnolia Bostad and Samhällsbyggnadsbolaget i Norden (SBB) are forming a 50/50 Joint Venture (JV) for the development of investment properties. The JV will acquire four projects consisting of around 2,300 residential units from Magnolia Bostad and one project consisting of around 250 residential units from SBB. Magnolia Bostad is also selling two residential care homes located in Nacka and Östersund to SBB.

Heimstaden, Magnolia and Derome Forms JV

Sweden Sweden — Heimstaden AB's subsidiary, Heimstaden Bostad AB has signed an agreement with Magnolia Bostad AB to jointly acquire land from Derome AB in Kungsbacka, Sweden. Together, the two companies will develop and construct approximately 1,600 apartments with a total area of​​ 100,000 sq.m., subject to regulatory approval. The project value upon completion is estimated to SEK 3.0 billion.

Johan Tengelin to Take Over as CEO of Magnolia

Sweden Sweden — Magnolia Bostad’s Board of Directors announces that Johan Tengelin will take over as CEO of the company no later than December 2020. He will succeed Fredrik Lidjan.

Magnolia Bostad and Slättö Form JV

Sweden Sweden — Magnolia Bostad and Slättö form JV for developing housing and residential care facilities.

Magnolia Bostad Signs Agreement on Acquisition of Land in Karlstad

Sweden Sweden — Magnolia Bostad has signed an agreement to acquire part of the Tullholmssågen 4 property in Karlstad municipality. Magnolia Bostad plans to develop the property into about 430 residential units of 25,500 square meters GFA.

Magnolia Bostad and Heimstaden Bostad Acquires Land – Forms JV

Sweden Sweden — Magnolia Bostad and Heimstaden Bostad have formed a joint venture aimed at jointly developing about 150,000 square meters of GFA housing in Näsängen, a seaside area in Åkersberga, Österåker municipality.

Magnolia Bostad Sells Two Projects to Heba

Sweden Sweden — Magnolia Bostad has signed an agreement to sell 227 residencies in Norrtälje and Åkersberga to Heba Fastighets AB. The properties estimated value at completion will amount to about MSEK 670.

Magnolia Bostad and Heimstaden Bostad Forms Joint Venture

Sweden Sweden — Magnolia Bostad and Heimstaden Bostad have formed a joint venture with the aim of jointly developing around 800 residencies in the new southern part of Bro, in Upplands-Bro municipality.

Magnolia Sells to Slättö

Sweden Sweden — Magnolia Bostad signed an agreement for the sale to Slättö of around 650 residences in Bro, Upplands-Bro municipality. The value at completion is expected to amount to around EUR 113M.

Magnolia Sells to Genova

Sweden Sweden — Magnolia Bostad has entered an agreement regarding the divestment of the Instrumentet 2 property in Örnsberg, Stockholm, with a total leasable area of approximately 6,000 square meters.

"Lack of Transparency Behind Developers' Struggles"

Sweden Sweden — After a turbulent autumn and winter, Magnolia Bostad's CEO, Fredrik Lidjan, criticizes the lack of transparency regarding land prices.