Moll Wendén has been the legal advisor to MKB Fastighets AB in its acquisition of a propery in Ellstorp at Värnhemstorget and Övervärn station in Malmö. This gives MKB opportunities to build 600 new apartments and to develop the urban area around Östervärn.

The seller is Jernhusen and the property transaction is carried out as a company transaction with an underlying property value of SEK 166 million. The contract require that MKB will continue the development with mixed forms of assignment. The contract includes approximately 600 apartments as well as a preschool and parking houses, a total of eight blocks. MKB will carry out development in the area together with other actors. Occupation is expected to take place in 2021 when zoning of the area has been established.

MKB, which is owned by Malmö City, is one of Sweden’s largest social housing companies with roughly 24,500 leasehold estates and 1,100 premises throughout Malmö. The company manages and builds a wide and differentiated range of attractive apartments for the population of Malmö. Right now, the company has around 900 leasehold estates under production. The access to zoned and buildable land is a decisive success factor for the building of new production leasehold estates.

Stefan Wendén (responsible managing partner), Henric Stråth, Christer Nylander and Lina Andréasson from Moll Wendén advised MKB Fastighets AB in the transaction.

Picture: MKB Fastighets AB (2020)