Magnolia Bostad sells 327 rental apartments to Alecta

Magnolia Bostad acquires a plot of land from Skanska Sverige in Central
Helsingborg, where the company intends to develop 327 homes, distributed over
four blocks. The company also signs a sales agreement with Alecta regarding the
apartments. The new homes will be developed as rental apartments and the total
property value at completion is approximately SEK 550 million.
The project is part of H+, the Municipality of Helsingborg’s project with the
goal of rejuvenation of the southern parts of the city. The new buildings will
complement the area with an updated architecture and will include elements that
are typical for Helsingborg.
In October, Magnolia Bostad announced that the company had signed a declaration
of intent for the sale of more than 2,000 rental apartments from six projects.
The sale in Central Helsingborg is the first of these projects, and the buyer is
Alecta.
“Earlier this fall, Magnolia Bostad signed a declaration of intent for the sale
of more than 2,000 rental apartments from six projects. I pleases me to announce
the first of these six agreements and also our cooperation with Alecta,” says
Fredrik Lidjan, CEO of Magnolia Bostad. “This is also the first construction
contract we enter with Skanska. This is in line with Magnolia Bostad’s goal to
work with Sweden’s best building contractors.
Construction start is estimated to take place in Q2 2016, with first occupancy
during the second half of 2018.

For more information, please contact:
Fredrik Lidjan
CEO
+46 70 223 43 47
fredrik.lidjan@magnoliabostad.se

Magnolia Bostad was founded in 2009 with the vision of creating modern homes and
residential environments through smart functions and attractive architecture.
The company develops new housing, both rental apartments and tenant-owned
apartments, mainly in attractive locations in Sweden’s larger cities and
regional capitals. We operate with a holistic view that aims to achieve long
-term sustainable development for the society at large.
Magnolia Bostad is listed on Nasdaq First North. Erik Penser Aktiebolag is
engaged as the Certified Adviser for the Company.
More information about Magnolia Bostad can be found at www.magnoliabostad.se