NREP and SHH sells rental apartment project to Trenum AB

November 15, 2017

NREP and SHH sells a rental property project comprising 127 apartments located in Tumba, a suburb to Stockholm, Sweden

NREP and SHH have entered into an agreement with Trenum AB regarding the sale of the property Bergfoten 1 in Tumba, Botkyrka, near Stockholm. The construction of 127 rental apartments, corresponding to 5,100 square metres of housing, is currently in progress on the property.

The transaction takes the form of a corporate divestment, and possession will be transferred in connection with the completion of the project, which is planned to July 2018.

“We are pleased that this rental apartment project, which is part of our long-term investment strategy in housing, will have Trenum as its owner,” says Tobias Alsborger, Partner at NREP. “We have long been convinced that demand for this type of urban infill project in locations with excellent access to public transport and main roads will remain strong over time.”

“NREP and SHH have successfully developed, and now divested, an attractive rental apartment project, which will be handed over to Trenum. Trenum, which is owned by Balder and the Third Swedish National Pension Fund, will be a stable long-term owner of the property,” says Misha Moeremans d’Emaus, CEO of SHH Bostad AB.

“We are pleased to acquire this project and extend our offering in Botkyrka. The fast-growing municipality has a major housing shortage, and as a long-term owner, we will contribute exciting rental apartments with clever space-saving solutions,” says Marcus Hansson, CEO of Trenum.

For further information, please contact:

Tobias Alsborger, Partner, NREP, +46 704 800 187

Published: November, 15 2017