Heimstaden Bostad has acquired a portfolio of 1,118 residential units for SEK 2.5 bn (€250 mln) in Linköping, Sweden, from the municipal housing company Stångåstaden.
The portfolio consists of 21 properties that comprises 1,118 regulated residential units (75,000 m2) and 38 commercial units (2,500 m2), including housing for elderly and student housing.
The package generates a gross rental income of SEK 101 mln per annum with an annual net operating income of SEK 66 mln based on the current occupancy rate of 99.6%.
The transaction will close in July and will be financed through debt and equity.
‘We are pleased to increase our presence in the attractive and fully regulated Swedish housing market. The portfolio is well-managed, and we look forward to integrating it with our existing 1,500 apartments in Linköping,’ said Fredrik Årman, head of Transactions at Heimstaden Sweden.