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    Home»Investments»Allianz invests $871 mln in Heimstaden’s Sweden property portfolio
    Investments

    Allianz invests $871 mln in Heimstaden’s Sweden property portfolio

    December 24, 2021Updated:December 24, 20211 Min Read
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    An illuminated Allianz SE logo on the company's offices at dawn in the La Defense business district in Paris, France, on Thursday, Jan. 21, 2021. The shift of jobs and assets to Paris after Brexit will accelerate this year, providing Europe with an opportunity to strengthen its own financial infrastructure, according to Bank of France Governor Francois Villeroy de Galhau. Photographer: Benjamin Girette/Bloomberg
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    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.

    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.

    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. 

    Read more/Source: Reuters

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