Blackstone's Swedish residential arm, Carnegie & Co said on Monday that it has completed the acquisition of four properties in Västerås, southern Sweden, in a share deal worth SEK 765 mln (€75 mln).
The properties, which were bought from local landlord Bostads AB Mimer, consist of a total of 750 apartments comprising 54,300 m2 of space. They provide a net annual operating income of SEK 23 mln.
'We are delighted to have completed the acquisition of these properties in Västerås, and that we are now able to begin our work within this municipality. We are extremely proud to have been entrusted with the management of this high-quality portfolio and to be able to grow our asset base further,' commented Svein Erik Lilleland, CEO of D. Carnegie & Co.
He added: 'We are also eager to start demonstrating to our new tenants how we work as a landlord and are very positive towards the long-term investments we want to carry out within this municipality. Västerås has a promising growth and development potential, as well as good prospects and we are delighted to take on the role as the new landlord for the properties.'