Skanska sells multifamily housing portfolio in Sweden for €145m

Skanska sells multifamily housing portfolio in Sweden for €145m
Image: Courtesy of KPA Pension

Nordic development and construction company Skanska has sold a portfolio of five multifamily housing projects in Skane, Sweden, for SEK 1.5 billion (€145 million) to KPA Pension. The transaction includes projects in Malmö, Lund, Helsingborg and Angelholm that are being developed and constructed by Skanska Sweden.

The portfolio includes a range of products, from townhouse-style condominiums to buildings eight stories tall totaling approximately 600 apartments.

”With this deal, we continue our successful collaboration with Skanska in housing development and complement our existing housing portfolio with a few more good and sustainable properties in attractive rental markets. Earlier this summer, we also acquired a nursing home in Helsingborg from Skanska,” said Lars Johnsson, property director at Folksamgruppen.

”Housing is a good investment for KPA Pension’s long-term asset management. We are now increasing the proportion of properties, which gives a higher return. It will be good sustainable housing for rent and good pensions for our customers on the day they end their working lives. In addition, the investment gives Skane 600 new homes,” says Britta Burreau, CEO of KPA Pension.

The projects will start in 2020 and will be completed in 2021-2024.