Setterwalls has assisted Wästbygg with the sale of a residential project in Sege Park in Malmö. The project comprises an entire block of 177 residential units. The transaction is structured as a forward funding project.
Wästbygg has sold the self-developed residential project Journalen 1 in Sege Park to Lansa Fastigheter. Sege Park is a former hospital campus where the city of Malmö and eleven developers have engaged in close dialogue regarding the design of the area.
Journalen 1 comprises an entire block of 177 rental apartments and will have Silver level certification according to the Swedish standard Miljöbyggnad. The transaction is structured as a forward funding project and the agreed property value is approximately MSEK 400. The transaction is subject to a decision on state investment aid, as well as approval of building permits and deeds. Lansa is expected to take possession of the project in late 2021 or early 2022.