Folksam sells shares in Sicklaön Invest and increases the ownership stake in Tornet Bostadsproduktion

29 December 2023

Folksam has signed an agreement for the sale of all its shares in Sicklaön Bygg Invest AB with building rights on Kvarnholmen in Nacka to Peab. Sicklaön Bygg Invest AB has roughly 270 fully planned, fully owned building rights of 26,000 square meters gross area. The deal is expected to be completed in the first quarter of 2024.

At the same time, Folksam increases its share in Tornet Bostadsproduktion by acquiring half of Peab’s shares. After the deal, Folksam and Fastighets Balder AB are the owners of Tornet. The company owns and manages approximately 2,300 rental apartments and has approximately 600 rental apartments in production in a number of cities in Sweden.

– The tower has built up a fine and modern portfolio of rental properties with a strong focus on sustainability and the value development has been positive. We assess that this development will continue, which will benefit our customers, says Marcus Blomberg, investment manager at Folksam.

Tornet Bostadsproduktion AB was founded in 2009 and has until now been jointly owned by Folksam, Balder and Peab. The company invests in, and also builds, owns and manages, above all, rental projects in attractive areas, mainly in the Stockholm-Mälardal-Gothenburg- and Öresund region. After the deal, Folksam and Balder remain as owners of 50 percent each. Within Folksam, Folksam Liv and Folksam Tjänstepension each account for 50 percent of the holdings.

Folksam and Peab formed the company Sicklaön Bygg Invest AB in 2012 with the aim of running construction development projects on Kvarnholmen in Nacka.

Source: Folksam
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