Hines make first acquisition in Swedish residential sector

Global real estate firm Hines expands its Nordic presence with its first Swedish residential acquisition. 

Hines residential

Hines, acting for the Hines European Core Fund (HECF), has agreed to forward fund the development of 310 rental apartments in Kista, Stockholm, in partnership with major Swedish residential developer Magnolia Bostad. 
This marks Hines' second Swedish acquisition this year, following a January industrial property purchase in Jönköping for the Hines European Property Partners (HEPP) fund. 
The Kista project, advised by Cederquist, Tjuren, EY, Bergama & Newsec, aims for a Miljobyggnad Silver sustainability rating.
Simone Pozzato, senior managing director at Hines and Fund Manager of HECF said: “The creation of rental accommodation in areas of high demand and low supply is a high-conviction investment theme for Hines and the European Core fund and we are delighted to secure this opportunity on behalf of our investors. This development shows how institutional capital can be deployed to deliver both value for our investors and the high-quality housing supply Sweden and Europe so clearly needs. We are looking forward to exploring opportunities to add more residential-for-rent assets to our growing portfolio”
Staffan Unge, senior managing director and country head - Nordics at Hines, added: “We are delighted to have made our first deal of 2025 and to enter the Swedish residential market, delivering much-needed, quality new homes for the community in Stockholm. We look forward to working closely with Magnolia Bostad to complete this project and we want to thank them and our advisors for their hard work and collaboration.”
Launched in 2006, the Hines European Core Fund (HECF) aims to provide investors with stable income and strong returns by investing in a diverse portfolio of primely located, high-quality properties across major European cities. At the close of 2024, the €3.1 bn fund boasted a 95% occupancy rate across its 68 properties, representing 34 investments in 16 urban markets and 12 European countries.