Magnolia Bostad enters into framework agreement with Heimstaden

 

Jun 29, 2018

Wigge & Partners advised Magnolia Bostad on the framework agreement, pursuant to which Heimstaden has agreed to acquire residential projects from Magnolia Bostad with a value of around SEK 9.6 billion The project portfolio is concentrated to the greater Stockholm area and the Öresund region. The project portfolio comprises of 14 projects with around 5,300 apartments. While the cooperation is based primarily on the construction of rental units, the parties have the shared intention of developing a part of the apartments as tenant-owned units. Most of the projects are already in Magnolia Bostads existing project portfolio which through the framework agreement receives a planned buyer. Magnolia Bostad will ensure that all the projects are developed as apartment buildings primarily intended for residential purposes.