Vasakronan to form new residential company (SE)

To further focus its operations, Vasakronan is to form a wholly owned subsidiary for residential properties. Properties and personnel from Vasakronan will be transferred to the company. At the same time, Vasakronan will commence work on the sale of the company. Leimdörfer has been appointed as process advisor.

"We want to focus on office and retail properties at Vasakronan and we also recognize the possibility of forming a new and very attractive residential company, which will be one of the larger, non-municipally-owned residential companies in Sweden, with a fantastic property portfolio and a very competent organization," says Fredrik Wirdenius, President of Vasakronan.

Most of Vasakronan's residential properties will be transferred to the new company, Bostadsaktiebolaget Dombron. It will comprise a total of 8,000 apartments with a total area of 480,000 m². The properties are located in Stockholm, Uppsala and Göteborg. Examples of properties that will not be transferred are residences in Nacka Strand, and the student apartments in the Skrapan building and at Telefonplan, since these properties are integrated with Vasakronan's remaining portfolio in terms of administration.

John Forselius will be President of Bostadsaktiebolaget Dombron. His current position is that of Senior Vice President, Residential Properties at Vasakronan.

Residential currently comprises a small portion of the total property portfolio at Vasakronan. After the reorganization, Vasakronan will have a property portfolio focused on attractive offices and retail premises in five locations in Sweden – Stockholm, Uppsala, Göteborg, Malmö and Lund.

Source: Vasakronan

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