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KlaraBo Sverige: Acquires property in Malmö for SEK 28 million for residential conversion

KlaraBo
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KlaraBo has signed an agreement to acquire an empty project property that previously served as a nursing home in central Malmö. The purchase price amounts to SEK 28 million and the purpose is to convert the property into housing.

The property was built in the 1990s and has previously housed 24 small apartments and common areas. After completed renovation and conversion, the property will house a total of 30 smaller apartments with an estimated rental value of approximately SEK 2 million.

"We continuously identify new opportunities both in the existing portfolio and possible acquisitions for conversion or property enhancements in other ways. These can be both larger and smaller property projects where we see potential for value creation. The property in question is centrally located in Malmo and fits well into our existing management philosophy," says Andreas Morfiadakis.

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