Wistrand Law Firm has assisted Swedish residential development fund Slättö in connection with its entry into of a framework agreement with listed house builder Magnolia Bostad. The partnership includes the acquisition by Slättö of residential projects from Magnolia Bostad with a value of at least SEK 5 billion, and may gradually be increased to SEK 14 billion. The project portfolio is concentrated to Stockholm, Uppsala and the Öresund region.
The project portfolio consists of 13 projects that include 450,000 sqm of habitable gross area, corresponding to about 7,000 apartments. While the cooperation is based primarily on the construction of rental units, the parties have a shared intention of developing approximately 25 percent of the apartments as tenant-owned units.
The agreement runs until 31 March 2020 with a possibility to be prolonged.
Wistrand’s team consisted of partner Nils Sköld with primary assistance of Denise Voorn.
For further information:
Nils Sköld, partner
T: +46 708 77 56 73