EQT Real Estate to deliver over 800 rental homes in Sweden

EQT Real Estate, through its second fund, has finalized a deal to deliver over 800 rental apartments in Stockholm, Sweden.

Flemingsberg

The residential campus will be located in Flemingsberg, a burgeoning life sciences and education hub south of Stockholm. 
This nearly €150 mln project, a partnership with ByggVesta, comprises two phases, with the first 417 units already under construction and a second phase of 388 units to follow. 
Targeting young professionals, researchers, and students, the modern apartments are expected to be completed in 2026 and 2027, addressing substantial housing demand in this area slated for significant growth. 
Flemingsberg is poised for significant growth, fuelled by substantial public and private investment, including the Stockholm South Business District, a planned commercial centre expected to attract 50,000 people by 2050. The development's location offers excellent access to the Karolinska Institute, Södertörn University, and a major transit hub providing a sub-20-minute commute to central Stockholm.
The development prioritizes sustainability, aiming for Miljöbyggnad Silver certification, and boasts convenient access to universities and public transport.
EQT acquired the development from ByggVesta, a well-established, family-owned Swedish developer specializing in urban projects. ByggVesta will remain a partner in the project, working alongside EQT to complete the rental homes in conjunction with Huddinge Municipality and Södertörn University.
Erik Körner, investment director in the EQT Real Estate advisory team, Nordics, commented: “We are pleased to be partnering with ByggVesta in Flemingsberg to deliver this development. Our goal is to create homes that are thoughtfully designed, energy-efficient, and accessible to the people who live and work in this dynamic part of Stockholm. Flemingsberg offers strong fundamentals as a growing neighborhood with long-term demand drivers.”
Tom Livelli, partner in the EQT Real Estate advisory team and head of Living Strategies, Europe, added: “This project reflects our continued commitment to addressing Europe’s housing challenges through long-term investment in high-quality, sustainable living environments. In Stockholm, limited new supply has deepened the housing shortage, and we see a meaningful opportunity to help meet residents' needs by delivering well-designed rental homes in growing urban areas. Our vision is to support livable, connected communities, and this development is a strong step in that direction.”