Acquisition of a former combined office and industrial building. Development of 363 apartments for rent targeting students and young professionals. The residents have access to a range of social and amenity areas and are part of a vibrant and stimulating community.
A build permit was secured that enables a mix of residential and commercial apartments. The mix allows for a range of end users including students, young professionals, corporate lettings and serviced apartments, reducing risk and diversifying income.
A highly energy efficient building was designed with optimized MEP spaces, which resulted in reducing basement size, and Miljöbyggnad Silver accreditation.
The property is located in one of the two priority regeneration zones of Malmö, situated 1.4 km from the CBD and 900 meters from a public transportation hub. The area is in the process of being transformed into a high density mixed-use and residential urban area characterized by a mix of old, industrial heritage and new modern architecture.
The property was acquired in March 2017 in a joint venture with a global institutional investor, with focus on developing and operating next generation housing in the Nordic region. The JV targeted in excess of 2,000 apartments with strong focus on ESG.