Residential developer Bonava has initiated production and sold three rental housing projects in Germany to three different investors, according to a press release.
The projects comprise a total of 299 apartments in Berlin, Hamburg, and Leipzig. The total transaction value amounts to 96 million euros, with financing provided by the buyers on an ongoing basis during the construction phase.
– The investor segment is a strategically important part of our business and a market that has been challenging in recent years. That is why it is particularly gratifying that we have now succeeded in completing sales of three different projects – to three different investors and in several key submarkets. This demonstrates the strength of our offering and the confidence in Bonava, says Rico Kallies, Head of Business Unit Bonava Germany.
The sales were finalized in December, and the first homes are expected to be completed by the end of 2027.
Bonava AB (publ) is a Sweden-based residential developer. The Company provides multi-family and single-family housing units, and develops homes for consumers and investors, such as pension funds, alongside municipalities and other stakeholders. Bonava's segments divided by geographical regions: Germany, Sweden, Finland, Estonia, Latvia and Lithuania. Germany is the biggest market, offering apartments and single-family homes to consumers, and multi-family housing with rental apartments to investors. In Sweden, Bonava offers apartments and single-family homes to consumers in Stockholm, Gothenburg, Linkoping, Uppsala and Umea regions. In Finland offers apartments for consumers and rental housing projects for investors. The Baltics segment comprises the capital cities of Tallinn, Estonia; Riga, Latvia; and Vilnius in Lithuania. The offering is primarily targeted at apartments for consumers, but also have rental housing projects for investors.
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