Sweden — Serneke Group AB has received a request from the series A shareholders to convert all shares of series A in Serneke to series B shares, in accordance with the conversion clause in Serneke's articles of association.

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

Sweden — Daniel Massot becomes the new project and development director for Karlastaden.

Sweden — CapMan Residential Fund makes its first Swedish investment through its acquisition of a forward funding project in Örebro.

Sweden — Serneke and Ica Fastigheter have signed a turnkey agreement for the new production of an entirely new urban block, covering slightly more than 22,000 sqm in Brunnshög in Lund. The order is valued at SEK 548 million.

Sweden — Fastighets AB Balder and Serneke are establishing another joint venture development company to continue the collaboration in Karlastaden, Gothenburg. This time, the joint venture companies will develop the Aries block in Karlastaden involving approximately 190 apartments.

Sweden — Serneke has sold the housing project Florist in Rosendal, Uppsala, to Lansa Fastigheter. The agreement also includes a turnkey contract to build 202 apartments that will be leased as rental apartments. The real estate transaction and the contract have a total value of MSEK 462.

Sweden — Serneke and Fastighets AB Balder are forming a joint company to continue their collaboration in the Karlastaden district. The company will develop three buildings in the district, comprising a total approximately 45,000 square meters GFA and approximately 450 apartments.

Sweden — The Board of Directors of Serneke Group has appointed Michael Berglin as President and CEO. Berglin has had the role of acting CEO since February this year and will take up his permanent role immediately.

Sweden — Together, Balder and Serneke will develop approx. 200 apartments in Umeå. The recently awarded land allocation is the starting shot for Balder’s establishment in the city and provides an opportunity for Serneke to boost its presence in Norrland’s largest growth area.

Sweden — Following discussions with the Board of Directors of Serneke Group, Ola Serneke has decided to step down from the role of President and CEO of Serneke Group. He will also be leaving his position as a member of the company's Board of Directors. In his role as President of Serneke Invest, Ola Serneke will retain responsibility for the company's major urban development projects.

Sweden — Balder is acquiring 50 per cent of the shares in Karlatornet AB, becomes a shareholder in Serneke Group and has agreed on the acquisition of almost 1,400 rental apartments and just over 12,000 sqm of commercial premises.

Sweden — Trading in Serneke's share was stopped on Wednesday afternoon, this after CEO Ola Serneke said at a webcast student seminar that a partner was ready in Karlatornet.

Sweden — Serneke and Magnolia Bostad have signed a turnkey contract for 414 housing units in Knivsta.

Sweden — Completion of Serneke's sale of Karlatornet to Oaktree Capital Management, which was due to happen within days, is being postponed. The reason is the uncertain situation in the global financial market caused by the corona pandemic. Consequently, Serneke will minimalize all activities in the construction of the tallest house in the Nordic region.

Sweden — Serneke has reached an agreement-in-principle with Oaktree Capital Management to divest 80 percent of Karlatornet, situated on the Karlastaden estate in the Lindholmen area of Gothenburg. Serneke will remain as a shareholder in Karlatornet and continue to act as main contractor for the construction of the tallest building in the Nordic region.

Sweden — Serneke is streamlining and combining its earlier business areas of Project Development and Property Management. Better resource utilization and more efficient processes in the development of the property business are main reasons for the reorganization.