Klövern AB secures the Solna Konstnären 2 property and enters a joint development agreement with Sehlhall, retaining a 50% interest for future residential projects.
Klövern AB has secured shareholder approval at an extraordinary general meeting to proceed with the acquisition and subsequent partial divestment of the Solna Konstnären 2 property. The transaction involves a strategic split where Klövern retains 50% of the property for residential development, while Sehlhall Fastigheter AB acquires the remaining 50% for specialized housing projects. This move aligns with Klövern's core strategy of developing residential units for sale and management.
The underlying agreed property value for the portion acquired by Sehlhall is approximately 129 million SEK.
Following a property split, Klövern will retain 50% for residential development, while Sehlhall will acquire 50% for the development of nursing homes, LSS housing, and rental apartments.
Urban Partners is the majority shareholder of Klövern with 77.17% ownership, providing context but not directly transacting.
Klövern AB shareholders approved the conditional acquisition of the Solna Konstnären 2 property at an extraordinary general meeting. The company will retain a 50% stake in the site for residential development, while selling the remaining half to Sehlhall Fastigheter for 129 million SEK. This related-party transaction aligns with Klövern's strategy to expand its housing portfolio in the Stockholm region.
Klövern intends to develop residential housing on its 50% share of the property, while Sehlhall will focus on developing care facilities and rental apartments on the other half.