Realy Bostad has successfully secured c. €65.9m in financing for two build-to-rent multifamily housing developments: Tornerparken in Stockholm and Kv Atlas in Gothenburg. The financing, provided by Cheyne Capital (Cheyne), represents a significant milestone in the development of 428 energy-efficient residential units and street-level commercial spaces, scheduled for completion and occupancy in late 2026.
The projects, managed by Realy Bostad, will comply with Miljobyggnad Silver certification standards, ensuring high energy efficiency and environmental performance. With excellent communications and less than 20 minutes commute to city centre, both projects offer attractive living environments with nature and shopping amenities nearby.
“Securing this financing demonstrates our capability to deliver sustainable, high-quality housing during a challenging market environment with few new construction starts. Sweden’s multifamily rental sector remains a compelling investment opportunity, and this transaction underscores continued support for our vision to deliver quality homes across Sweden,” said Oscar Perers, CFO, Realy Bostad.
In competition with several domestic and international lenders, Cheyne's proposal was selected after an extensive evaluation process.
“Partnering with Cheyne Capital further underscores our focus on managing international capital in Sweden. Their expertise and flexibility make them an ideal partner as we continue to scale our portfolio,” added Oscar Perers.
Cheyne, the global alternative investment manager, with TEAL Capital acting as a local partner, enters the residential development market in the Nordic region through this collaboration.
“We’ve been increasing our focus on Nordic real estate lending over the past few years, but have been waiting for the optimum opportunity to enter the region’s undersupplied residential market. We are confident that this development is just that, and we’re excited to be partnering with Realy Bostad, which has proven itself as a capable local developer and operator, well positioned to deliver high-quality local property development and management,” said Daniel Schuldes, Co-Head of European Real Estate at Cheyne Capital.
“We are proud to have tailored a financing solution for the construction of attractive new housing, a segment with a robust credit profile underpinned by strong market and demographic fundamentals,” said Jakob Dahlstedt, Founding Partner at TEAL Capital.
Realy Bostad’s continued success is underpinned by its strong partnership with Matter Real Estate, the company’s principle investor. Matter’s support enables Realy Bostad to confidently pursue its vision of building a substantial residential portfolio to manage in-house, contributing to sustainable urban development.
“We are fully committed to Realy Bostad’s long-term mission to create energy-efficient, high-quality housing. This latest milestone underscores their leadership and execution capabilities, and we are proud to support them on this journey,” said David Christie, CEO, Matter Real Estate.
The financing process was supported by TEAL Capital, acting as Cheyne Capital’s local partner. Legal advisory services were provided by DLA Piper for Realy Bostad and by Cederquist for Cheyne Capital.
Image source - Cheyne Capital.
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