JLL advises PATRIZIA on the acquisition of a 427-unit residential project in Sweden for EUR 100m
PATRIZIA AG, a leading partner for global real assets, has acquired a residential development project in Malmö, Sweden, in the attractive suburb of Hyllie from Slättö, a Swedish real estate fund manager, for approx. EUR 100 million. JLL acted as PATRIZIA’s commercial advisor on the deal.
Scheduled for completion in Q4 2021, the development will deliver 427 modern residential units comprising one to four-bedroom apartments for rent. The building will be constructed to high standards and be certified in accordance with Sweden Green Building Council’s “Miljöbyggnad Silver” (Environmental Building Silver).
The development is strategically located in close proximity to the Emporia Shopping Centre and benefits from excellent transport links via the nearby Hyllie railway station, enabling short commuting times to both central Malmö and Copenhagen.
Filip Sköldefors, Head of Living Capital Markets, JLL Sweden: “We are very pleased to have advised PATRIZIA on the acquisition of this exciting residential project in one of Sweden’s most high-profile city development areas. The Swedish residential rental sector provides investors with stable, inflation-linked income streams and benefits from an explicit demand-supply imbalance. We look forward to assisting PATRIZIA in growing their exposure to the Swedish residential sector.
This transaction further demonstrates our market-leading position within the Living segment, having advised international clients on multifamily deals totalling €300 million in 2020 alone.”
Daniel Anderbring, Head of Capital Markets, JLL Sweden: “At JLL, we are proud to be working with and advising some of the world’s leading real estate investors in gaining exposure to one of Europe’s most attractive residential markets, utilising our uniquely positioned platform within the Living segment.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.