Profi sale is single largest property transaction in Malmö since 2008 (SE)

Profi has sold the Carolus 34 property in Malmö to Akelius Fastigheter AB. The property, which comprises 635 apartments, is a part of the Caroli block in central Malmö.

"Through the sale of the residential part, we can focus on developing the remaining retail part of the Caroli block and its immediate surroundings. We look forward to continuing the successful collaboration with Malmö City," says Staffan Olsson, Managing Director of Profi.

Profi continues the work with developing retail premises in the Caroli block, where Profi intends to invest approximately SEK 200 million (€22.8 million) in the next few years. The sale to Akelius Fastigheter AB comprises 635 apartments with a lettable area of 31,400 m². Profi acquired the Caroli block in 2006 and in 2008 the residential property Carolus 34 was detached through a three-dimensional subdivision. Akelius will access the property on April 1, 2011.

"We are very pleased to have found a credible and long-term owner as Akelius Fastigheter for the residential block. Akelius is renowned for its experience at managing residential properties, which is good both for our tenants and the surrounding area," says Thomas Sipos, Deputy Managing Director of Profi.

Akelius Fastigheter owns and manages 32,000 apartments with a combined market value of SEK 28 billion. Some 30 of its rental properties are located in Malmö.

"We wish to grow in the new parts of Malmö and see the new Caroli block as a very interesting area with great potential," says Pål Ahlsén, Managing Director of Akelius Fastigheter AB.

Following the sale, Profi does not own any rental properties, with the exception of one residential building in Gothenburg. Catella advised Profi in the transaction and Glimstedt was the legal adviser.

Source: Catella

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