Savills has represented private construction company Wästbygg on securing forward funding for its residential project located near Stockholm, Sweden. The property has been acquired by Swedish pension firm Alecta for approximately SEK 430 million (approx. €48 million).
The project, located south of Stockholm in Haninge municipality, comprises 222 apartments across approximately 13,500 m² and is scheduled to be completed in 2015.
Pero Popovski, CEO at Wästbygg Projektutveckling Stockholm AB, says: “We are happy that, together with a professional and experienced investor such as Alecta, we are able to develop and contribute additional rental apartments in the Stockholm region.”
Johan Bernström, head of investment at Savills Sweden, adds: “This project will help to address the ongoing high demand for good quality residential stock in and around the city of Stockholm.”