Fortinova acquires residential portfolio in Sweden

Swedish real estate company Fortinova Fastigheter has acquired newly built residential properties in Strömstad from SP Group Strömstad Holding for SEK 295 mln (€26.7 mln).

Strömstad Linden 12 & 13, Häggen 2 och Rönnen 9

The acquisition includes 256 apartments (1-3 rooms and kitchens) across Linden 12 & 13, Häggen 2, and Rönnen 9 (parking), totaling 9,996 m2 of residential space and 198 parking spots. These properties, completed in 2023 by Scandinavian Property Group (SPG), come with investment support and an energy class B rating, aligning with Fortinova's sustainability goals. All apartments are currently leased, with a projected rental value of SEK 22.7 mln (€2.0 mln) by 2025.
Financed by bank loans and Fortinova's own funds, the acquisition is expected to boost Fortinova's financial performance, improving earnings per share and interest coverage. The properties' residual tax value is higher than the acquisition price, meaning no deferred tax is incurred. Access is slated for October 1, 2025.
This move establishes Fortinova in Strömstad, a growing municipality known for cross-border trade and tourism. The area's appeal is further enhanced by a planned hotel and apartment project, Njord Hotel & Suits, adjacent to the acquired properties.
Krister Howding, business developer at Fortinova, said: "The acquisition in Strömstad is a strategic step for Fortinova. We see great potential in the deal and are pleased to be able to offer modern and sustainable housing in an attractive location. The combination of fully rented apartments, energy class B, and proximity to upcoming hotel projects makes this a long-term value-creating acquisition." 
The seller was advised by Nordanö and Advokatfirman Schjødt, while Fortinova received advice from Advokatfirman Allié.
Fortinova has a geographical focus on growth municipalities in western Sweden that are attractive places to live, work and study. As of June 30, 2025, it owned properties worth SEK 5.0 bn (€452 mln), of which residential properties account for around 72%, while the remainder are community and commercial properties.