Heimstaden have agreed on terms for its first property in Utrecht, the Netherlands

Heimstaden has after a period of diligent market studies decided to make a first acquisition in the Netherlands. The property acquired is a residential property in Utrecht, located at the Merwedekanaalzone close to the city centre and the University of Utrecht. The fast growing city of Utrecht is the country’s 4th largest city and is situated some 35 km south of Amsterdam and the property location has good connections to the highway network and the close-by city centre.

The property was constructed in 2010 with 131 flats and 128 parking places. Purchase price amounts to m€ 22.75 and the transaction is executed as an asset deal. Closing is expected for the current quarter and the acquisition will be financed by a combination of equity and bank debt.

“We have studied the Netherlands for some time now and have found the first property that fits our requirements and makes a good start. Even though residential prices have increased quite a bit during the last couple of years we feel that the Dutch market overall is in a good shape considering both population growth and construction activity as well as economic development. That, in combination with a stable and partly regulated rental market, low vacancy rates as well as small apartments is something we value highly and that forms a good basis for a profitable investment. We look forward to more transactions here in the future”, states Magnus Nordholm, deputy CEO of Heimstaden.

Heimstaden was advised by Colliers (Denmark) and Immo Finance. Sellers are two special purpose vehicles of Dutch investment boutique Hof Capital. Sellers were advised by JLL.

Houthoff lawyers and notaries provided legal advice.

For further information, please contact:

Magnus Nordholm, Deputy CEO                                    +46 705-29 31 44       magnus.nordholm@heimstaden.com

Claes Westlin, Business Developer                               +46 708-77 59 52        claes.westlin@heimstaden.com 

This is information of the type that Heimstaden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was issued, by the contact persons above, for publication on October 12, 2018 at 14:30 CET.