Residential developer Alm Equity has acquired Storstaden Stockholm Bostad, which holds 14 development projects in Stockholm.
According to the company, the acquisition strengthens its project portfolio and creates significant development opportunities. The planned transfer is set for mid-January, with the portfolio comprising approximately 100,000 square meters GFA and an intended construction of around 1,200 residential units.
The projects are expected to be taken over and commence production between 2026 and 2031, with completion projected for 2027 to 2033. They are anticipated to generate positive cash flow from the second half of 2029.
The total investment amounts to approximately SEK 53 million, primarily used to settle external debts. Between 2026 and 2033, additional purchase prices for building rights totaling around SEK 0.9 billion will be incurred.
ALM Equity AB is a Sweden-based company engaged in the real estate sector. It acquires, develops and sells primarily residential projects. It has three business areas: Residential projects, which comprises detail-zoned properties where residential construction is permitted; Plan projects, comprising properties not yet detail-zoned, or detail-zoned properties where the detail-zoning can be changed, and Project properties, which comprises built-up properties with existing operations. The Company’s geographic markets are Stockholm, Uppsala, Malardalen and holiday locations in Sweden. Its portfolio contains over 30 projects in five geographic areas: The Greater Stockholm Metropolitan area, Uppsala, Malardalen, Central Sweden West and the East Coast South. Its customers are home buyers and real estate companies, among others. In December 2013, it acquired 16,900 square meters residential development rights in Racksta from Sveafastigheter and Byggvesta Bryggvagen BR from Bygg Vesta AB.
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