22 mars, 2016

Large deal in northern Sweden

Last week, the sale of a large municipally owned residential portfolio in Östersund was approved by the city council. The portfolio included close to 1,700 apartments with a total area of 124,000 sqm. The portfolio was acquired by Rikshem for approximately SEK 1.1bn. As part of the transaction, Rikshem also committed to build 600 new apartments in Östersund, of which 300 in a new joint venture with the seller.

Pangea Property Partners was sell-side adviser to Östersundshem in the transaction. Altogether, we have now advised on 18 deals in northern Sweden with a property value above SEK 6bn in 2015/2016. For example, we have advised on transactions where municipalities have sold real estate in Luleå, Skellefteå, Sundsvall and Östersund.

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