Setterwalls has advised Serneke in connection with its divestment of a development project in Karlastaden consisting among other things of a 17 storey high building

Setterwalls has advised Serneke in connection with its divestment of a property including approximately 15 000 square meters of construction rights in Karlastaden to Tosito for the development of among other things a 17 storey high building. The transaction was consummated as a sale of shares in a project company for a consideration of approximately MSEK 200. Tosito and Serneke have in connection with the transaction concluded a turnkey construction agreement for approximately MSEK 300. The purpose of the transaction is to build approximately 180 apartments on the relevant property. The project is expected to be completed during the summer of 2023.