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2016-05-16

Magnolia Bostad AB: Magnolia Bostad sells 436 rental apartments to SPP Fastigheter

Magnolia Bostad acquires building rights for approximately 700 homes
in central Södertälje. At the same time, the company sells 436 rental
apartments that are to be developed on approximately two thirds of
the property to SPP Fastigheter AB (publ). Total property value at
completion of this first phase of the project is estimated at
approximately SEK 750 million. Local planning work is underway for
the remaining part of the property, which will include some 260
rental and tenant-owned apartments.

The project is located a few hundred meters north of Stortorget, one
block from the Södertälje canal, and is one of the largest housing
development projects in Södertälje. First occupancy is estimated to
take place in 2018.

Wistrand have acted as advisors for Magnolia Bostad and Linklaters
have represented the buyer, SPP Fastigheter. Cushman & Wakefield and
Advokatfirman Lindahl have acted as advisors to the seller of the
building rights, Acturum Real Estate AB.

For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47, fredrik.lidjan@magnoliabostad.se

Marita Loft, CEO Storebrand Fastigheter
+46 70 960 54 64, marita.loft@storebrand.no

Magnolia Bostad develops efficient, attractive and functional
residential properties, including rental apartments, tenant-owned
apartments and hotels, in attractive locations primarily in Sweden's
growth areas. Our work is based on a holistic approach where the
operations are conducted in a manner that promotes long-term,
sustainable urban development. Magnolia Bostad's share (MAG) is
listed on Nasdaq First North. Erik Penser Bank is the Certified
Adviser for the Company. More information is available at
www.magnoliabostad.se

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http://news.cision.com/magnolia-bostad-ab/r/magnolia-bostad-sells-436-re...
http://mb.cision.com/Main/12686/2009889/516225.pdf

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