A partnership between the Swedish municipality of Sigtuna and housing corporation Sigtunahem has sold a portfolio of residential and public properties to investment firm Rikshem for SEK 1.7 bn (EUR 190 mln).
The transaction marks the largest sale of properties held by a Swedish municipality this year. The properties sold include more than 1,000 rental apartments and 60,000 m2 of public properties, health and social care accommodation, schools and kindergartens.
Real estate consultant Savills advised Sigtunahem and the municipality on the deal. SigtunaHem intends to use the capital freed up by the transaction to strengthen its balance sheet and invest in its remaining portfolio and new developments.
The transaction is the fourth major deal carried out by Rikshem this year. Rikshem is co-owned by pension funds Fjarde AP-fonden and AMF.