CBRE completed the acquisition of property in Stockholm from Magnolia Bostad for SEK587m.

CBRE, a real asset investment management firm, completed the acquisition of property in Stockholm from Magnolia Bostad, a real estate developer, for SEK587m. “This was a rare opportunity to acquire a high-quality build-to-rent development in a compelling location. The chronic undersupply of rental accommodation in Stockholm, combined with ongoing population growth and the strong fundamentals of the Ursvik market, means that this asset is anticipated to be income-producing from the point of completion, with attractive prospects in the long term due to Sweden’s highly institutional PRS market,” Andreas Norberg, CBRE Global Head of Investment Operations.