June 3, 2020 - Assignment

Transfer of property for student housing in Gothenburg

A local investor consortium has entered into an agreement with Offentliga Hus i Norden AB (publ) regarding the transfer of a company owning an undeveloped property at Opaltorget in Gothenburg with closing on 1 July, 2020.

The property is subject to a project contract for the construction of approximately 10 250 square meters gross area (BTA), mainly for student housing. A 20-year block rental agreement has been signed with the Gothenburg Student Housing Foundation. After completion of the project, the rental value of the property amounts to over SEK 16 million per year and occupancy is estimated to August 2022.

The sellers were advised by Mannheimer Swartling in the transaction.