ELF Development A/S, a Danish apartment developer, enters as a new actor on the Swedish real estate market when acquiring 20 000 m2 surface rights by the sea in Limhamns Läge. The Seller was Bonava and the transaction was made in form of a corporate transaction.
The former cement factory area has recently been rebuilt to an attractive residential area, where Elf Development now is planning to build apartments. A new organisation under a Swedish company, ELF Develoment AB, which is currently establishing an office in Malmö, is about to take place in order to start the project.
ELF Development currently has a project portfolio of 200 000 m2 in the greater city of Copenhagen. A part of this is developing by management of ELF Development’s own real estate portfolio, which at the moment has a value of approximately SEK 1,8 billion.
Stefan Wendén (responsible partner) from Moll Wendén assisted ELF Development in the transaction.