PRESS RELEASE
The Skjerven Group launches Scandinavian investment drive in Germany
- First acquisition for EUR 66 million in Berlin-Spandau
- Heimstaden, Scandinavia’s largest privately owned residential real estate company has made its first acquisition in Germany
Berlin, 13. July 2018 – The Skjerven Group has acquired a EUR 66 million property portfolio on behalf of Heimstaden AB, Scandinavia’s largest privately owned residential real estate company. The ten residential properties in Berlin-Spandau comprise 484 residential units with a total of 27,831 square meters of living space and 50 parking spaces. The seller of the properties on Päwesiner Weg is a Berlin family office. The transaction marks the start of a long-term investment drive by the Scandinavian company.
“We have been developing our extensive regional expertise and robust network for more than a decade, which means that we are ideally placed to support Heimstaden as it enters its first market outside Scandinavia,” said Einar Skjerven, CEO of the Skjerven Group. “At the same time, our own Scandinavian background can only benefit our cooperation with our new Scandinavian partners. We look forward to a long-term, fruitful and mutually beneficial partnership.”
Company starts long-term investment program in Germany
“We are delighted to make such a successful entry into the German market. Real estate prices in Berlin are growing steadily, starting from a relatively low level. In combination with a very stable rental market, which hardly has any vacancies, this represents a very solid basis for profitable investments,” commented Magnus Nordholm, Deputy CEO of Heimstaden. “German residential real estate markets continue to offer great potential, especially with the long-term investment strategy we are pursuing.”
Legal supervision of the Spandau transaction as well as of further targeted acquisitions is being carried out by the Berlin based law firm Bottermann Khorrami LLP.
In addition to executing investments for Heimstaden, the Skjerven Group is continuing its Berlin investment program for institutional investors, which has a target volume of EUR 150 million and was launched at the beginning of 2017.
About the Skjerven Group
The Skjerven Group is a real estate investment company with its headquarters in Berlin. The company is engaged in real estate transactions, asset management, financing and fund management, and provides investment management services to international institutional investors, family offices and high net worth individuals. The Skjerven Group comprises three companies: Skjerven Invest GmbH, Skjerven Asset Management GmbH and A-State Immobilien GmbH.
About Heimstaden AB
Heimstaden AB is one of the leading residential real estate companies in Scandinavia. The group owns, develops and manages residential properties in Sweden, Norway and Denmark. Heimstaden owns about 31,600 apartments and real estate worth a total of approximately SEK 54.8 billion. Heimstaden’s preference shares are listed on the Nasdaq First North Premier under the short name HEIM PREF and the company also has two bonds listed on the Nasdaq Stockholm index. The company’s head office is located in Malmö. Erik Penser Bank AB is the company’s Certified Adviser.