Mästerbo’s Acquisition of 189 Rental Units in Lillsidan From Magnolia Bostad

Wigge & Partners has advised Magnolia Bostad on the deal.

Magnolia Bostad has sold 189 rental units in Lillsidan, central Enköping to Mästerbo Fastighets AB, which is a joint venture between CBRE Global Investors and Estea. The estimated property value upon completion is around SEK 435 million.

The sale is taking place as a corporate transaction and concerns the properties Enköping Lillsidan 5:7 and Enköping Lillsidan 5:8. The project has started construction and consists of apartment buildings in two blocks, one of which is being built on top of a grocery store. The turnkey contract has been signed with ByggPartner and the buildings will be certified in accordance with the Swedish Green Building Council’s silver certification. The buildings have been designed by Liljewall Arkitekter. Occupancy is expected to take place in stages during 2023–2024. Following the sale and handover of the project, Magnolia Bostad has a project management agreement with the buyer that runs until completion.

The area has a very attractive location close to the centre of Enköping and will undergo a complete transformation into a new, attractive neighbourhood. Through this new district, Enköping’s city centre will expand in a natural, pleasant way.

Magnolia Bostad AB is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden’s growth areas and major cities.

The Wigge & Partners team included Daniel Unger (Picture – lead partner) and Julif Lif (senior associate).

Involved fees earner: Julia Lif – Wigge & Partners; Daniel Unger – Wigge & Partners;

Law Firms: Wigge & Partners;

Clients: Magnolia Bostad;

Author: Federica Tiefenthaler