Friday, December 19, 2014

Oscar Properties: Buying block on Lilla Essingen for 920 million (Cont’d) – Dagens Industri

Oscar Properties: Buying block on Lilla Essingen for 920 million (Cont'd) – Dagens Industri

Oscar Properties: Buying block on Lilla Essingen to 920 m (Continued)

                  2014-12-19 14:49
             

 (SIX) Oscar Properties has signed an agreement to acquire the block  Primus 1 at Lilla Essingen in Stockholm from Vasakronan. The property has  building rights of approximately 42,000 square meters BTA and the purchase price is  approximately SEK 920 million. Access occurs when the current  zoning change becomes final.       It is clear from a press release.       "Our intention is to bring in a financial partner for recovery  project according to our proven model. We are already in preliminary talks  with some potential partners but do not expect to formalize something  cooperation until the zoning plan is laid, "says Oscar Engelbert, MD  for the company.       The acquisition is made with the condition that the new zoning plan becomes final  force.       If you look at real estate statistics, house prices in Stockholm, where  the company has operations, increased every year but one since 2004 when the company  was started. Since its ince   ption, Oscar Properties developed and sold  residential properties for approximately 4 billion and produced about  700 homes in Stockholm, through conversion or new construction.  The project portfolio amounts to approximately 1,900 residential units, of which approximately 450  homes are under ongoing production.    Jonathan Axelsson +46 8586163 77  mailto: jonathan.axelsson@six-group.se  www.blogg.six.seSIXNews  SIX News 

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