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Aros Bostadsutveckling AB: Aros Bostad enters into agreement to divest two residential development projects for MSEK 850

Aros Bostadsutveckling AB publ ("Aros Bostad") has signed an agreement regarding divestment of two residential development projects, formed by the first phase of the residential area Viggby Ängar in Täby and the third phase of O2 Orminge in Nacka. The purchase price is MSEK 850 and the buyer is CBRE Global Investors, on behalf of a pan European fund.

The development project Viggby Ängar in Täby, which is fully owned by Aros Bostad, comprises four phases with a total of 247 apartments. The first phase consists of a building with 102 apartments, which is under construction with an estimated completion during 2023. The divestment of the first phase enables an earlier sales and construction start of the second phase.

O2 Orminge in Nacka comprises three phases with a total of 268 apartments, which are being developed within the Fund Aros Bostad IV. The first two phases are completed. The third and final phase, which is now being divested, consists of four buildings with a total of 105 apartments. The production start is planned for late 2021 and completion is estimated for the beginning of 2023.

Magnus Andersson, CEO Aros Bostad:

"In the light of a strong investment market for rental residential properties we can carry out this, for us, very attractive deal, by which we can secure the promised investor return at an early stage and still control the quality throughout the development. The ability to act fast and decisively on opportunities in the market is a key strength for Aros Bostad."

Upon completion, the buyer will take position of the properties and the divestment will be reported in line with IFRS. Skierfe Advokatfirma and Tango have acted as advisers for the seller. 

Aros Bostad's Certified Adviser for Nasdaq First North Growth Market is Erik Penser Bank. Financial information is to be found at www.arosbostad.se/investerare

This disclosure contains information that Aros Bostadsutveckling AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 09-07-2021 19:22 CET.

Source: Cision
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