This content is not available in your region

Allianz invests $871 million in Heimstaden's Sweden property portfolio

Allianz invests $871 million in Heimstaden's Sweden property portfolio
Allianz invests $871 million in Heimstaden's Sweden property portfolio   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p> – Allianz Real Estate said on Wednesday it had invested 7.9 billion Swedish crowns ($870.88 million) in Heimstaden Bostad’s portfolio of properties in Sweden that it recently acquired from its rival Akelius Residential Properties. </p> <p>The agreement will form a joint venture on the 30.4 billion Swedish crown portfolio, which includes 3,377 homes in Malmo and 5,932 homes in Stockholm, the asset manager said in a statement. </p> <p>Allianz Real Estate, on behalf of insurer Allianz, said the joint venture will be funded with equity, as well as a debt facility from Heimstaden. </p> <p>Heimstaden in September agreed to buy Akelius’ 599 properties in Germany, Denmark and Sweden for 92.5 billion Swedish crowns ($10.6 billion), following a string of smaller portfolio acquisitions this year across northern and central Europe.</p> <p>($1 = 9.0713 Swedish crowns)</p> <p/> </div>