November 26, 2013 - Assignment

Mitt Alby acquires residential properties from municipality in Sweden for SEK 705 million

A group of investors led by Mikael Ahlström, founder of Procuritas, has through Byggmästare Anders J Ahlström Fastighets AB (publ) and its wholly owned subsidiary Mitt Alby AB acquired 10 residential properties containing 1 300 apartments from Botkyrkabyggen AB. The transaction value was SEK 705 000 000.

Mitt Alby AB will work together with the municipality of Botkyrka, residents, non-profit associations and organisations, entrepreneurs and other local stakeholders in order to develop the properties but also the area as such. The goal is to create an improved living environment but also an increased social togetherness and a sense of pride of the area among the residents.

Debt financing was obtained from a SEK 465 000 000 loan provided by SBAB Bank AB (publ) and through an issuance of SEK 200 000 000 senior secured notes.

Byggmästare Anders J Ahlström Fastighets AB (publ) and Mitt Alby AB was advised by Mannheimer Swartling in relation to both the acquisition and the financing. Mannheimer Swartling’s team comprised Tomas Johansson and Julia Nilsson (real estate) and André Andersson, Veronica Stiller and Viktor Leisnert (banking & finance). Mirka Ylinen Gorne and Håkan Knutsson (public M&A) assisted in corporate matters.