Savana Holding’s Collaboration with SBB For The Development of 409 Apartments in Stockholm

Cirio Law Firm advised Savana Holding AB.

Samhällsbyggnadsbolaget i Norden AB and Savana Holding AB initiated a collaboration on new production of housing in Brandbergen centre in Haninge Municipality.

In total, the project comprises 409 apartments, an investment of approximately SEK 800m. SBB expects a “yield on cost” of 4.5 per cent. Savana guarantees the construction cost. In addition, Savana will focus on selling 137 apartments as condominiums. The condominiums are estimated to generate a profit of approximately SEK 50 million for each party. SBB will be the long-term owner of 272 rental apartments. The tenancies will be taken over upon completion, which is expected to take place during the first quarter of 2022 and the fourth quarter of 2022.

Savana Holding AB operates as a holding company. The Company, through its subsidiaries, provides construction and property management services. Savana Holding serves customers throughout Sweden.

SBB is the long-term ownership of rental residential property in Sweden and social development property and the construction rights.

Cirio team consisted of Johan Hessius (Picture), Joel Sandin Persson and Joakim Blecher.

Involved fees earner: Joakim Blecher – Cirio Law Firm; Johan Hessius – Cirio Law Firm; Joel Sandin Persson – Cirio Law Firm;

Law Firms: Cirio Law Firm;

Clients: Savana Holding AB;