Barings Real Estate has made the latest in a series of “firsts” for the firm as it adds new asset to its real estate portfolio.
The firm has secured six high quality residential buildings in Stockholm, which will be developed in phases, through a forward commitment.
Development will result in 610 apartments for rent in Bromsten where there is currently a chronic undersupply of residential accommodation for rent, the firms said.
The six buildings comprise a mixture of one, two, and three-bedroom units, with an average size of 40 square metres.
“This is a rare opportunity to access the Stockholm residential rental market with new purpose built buildings in a strong location,” said Staffan Unge, Barings real estate country head for Sweden.
Last year the firm said it had made its first investment in the UK private rented sector and its first in the office sector of Madrid.
Residential and student housing are major themes for Barings in 2019 across the Nordics, Unge said.
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