CBRE GI acquires two residential projects in Stockholm

CBRE GI acquires two residential projects in Stockholm

CBRE Global Investors has agreed to acquire two residential projects in Stockholm from local developer, Aros Bostadsutveckling.

According to a statement by Aros Bostad, CBRE Global Investors has paid SEK 850 million( appr. €83m) for the housing projects.

The residential projects are located in Nacka and Täby, Greater Stockholm. Due for completion in 2023, the Nacka asset comprises 104 residential units, 245 sq m of commercial space, as well as 52 parking spaces. Meanwhile, the Täby asset comprises 102 residential units and 96 parking spaces and is set to complete in mid-2023. Central Stockholm can be reached within 20 minutes from both assets, via public transport.

“This was a rare opportunity to acquire a portfolio of build-to-rent properties, in two attractive locations ranked within the top ten in Sweden for income level. There is strong demand for rental units in Stockholm, with vacancy rates generally very low, so we expect these assets to perform well providing secure long-term income for our investors,” said Andreas Norberg, Head of Investment Operations, Nordics, CBRE Global Investors.

“In the past six months, we have been active in the Nordic residential sector acquiring over €245 million of residential assets for a variety of investors, “he added.