EQT Real Estate completes acquisition to deliver more than 800 rental homes in Stockholm, Sweden
EQT Real Estate completes acquisition to deliver more than 800 rental homes in Stockholm, Sweden |
| [30-April-2025] |
STOCKHOLM, April 30, 2025 /PRNewswire/ -- EQT is pleased to announce that the EQT Real Estate II fund (`EQT Real Estate') has closed a forward funding agreement for the second phase of a major residential development in Flemingsberg, a rapidly developing hub for research, healthcare, and education in southern Stockholm. Together, the two phases represent an investment of nearly EUR 150 million. The buildings, scheduled for delivery in 2026 and 2027, will bring a total of 805 modern rental apartments to a market with significant unmet housing demand. This latest commitment covers 388 homes and follows EQT Real Estate's initial investment in the development's first phase, comprising 417 apartments that were acquired in June 2024 and are currently under construction. The rental homes will serve young professionals, researchers, and students. The area is set to benefit from significant public and private investment, including the Stockholm South Business District, a new commercial center projected to bring 50,000 workers, residents, and visitors by 2050. The development is directly adjacent to Karolinska Institute and Södertörn University, and within walking distance of a major transit hub connecting Flemingsberg to central Stockholm in under 20 minutes. The properties will be developed in accordance with the Miljöbyggnad Silver ESG certification for residential assets in Sweden. Key sustainability features will include solar panels, social areas/lounges, and climate-compensated concrete. The development was acquired from ByggVesta, a family-owned Swedish developer with a long track record in urban development, who will continue to partner with EQT to deliver the rental homes in close collaboration with Huddinge Municipality and Södertörn University. Erik Körner, Investment Director in the EQT Real Estate advisory team, Nordics, commented: "We are pleased to be partnering with ByggVesta in Flemingsberg to deliver this development. Our goal is to create homes that are thoughtfully designed, energy-efficient, and accessible to the people who live and work in this dynamic part of Stockholm. Flemingsberg offers strong fundamentals as a growing neighborhood with long-term demand drivers." Tom Livelli, Partner in the EQT Real Estate advisory team and Head of Living Strategies, Europe, added: "This project reflects our continued commitment to addressing Europe's housing challenges through long-term investment in high-quality, sustainable living environments. In Stockholm, limited new supply has deepened the housing shortage, and we see a meaningful opportunity to help meet residents' needs by delivering well-designed rental homes in growing urban areas. Our vision is to support livable, connected communities, and this development is a strong step in that direction." Contact EQT Press Office, press@eqtpartners.com This information was brought to you by Cision http://news.cision.com The following files are available for download:
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Company Codes: Bloomberg:EQT@SS, ISIN:SE0012853455, RICS:EQT.ST, Stockholm:EQT |
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