(STOCKHOLM) - Hines, a global real estate investor, developer and manager has acquired its first residential asset in Sweden, signing a forward funding agreement with Magnolia Bostad, one of the largest Swedish residential developers, to deliver 310 residential for rent apartments in Kista, Stockholm.
The project, acquired by Hines on behalf of the Hines European Core fund (HECF), is the second acquisition by the firm in Sweden, following the 129,500 square-meter industrial asset in Jönköping secured on behalf of Hines European Property Partners (HEPP) in January 2024.
According to Hines’ proprietary research from March 2025, the global housing market would need a net 6.5 million new housing units to meet current demand across key developed economies.
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.”
Hines was advised by Cederquist, Tjuren, EY, Bergama & Newsec. The project is targeting a Miljobyggnad Silver rating.
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About Hines
Hines is a leading global real estate investment manager. Hines owns and operates $90.1 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 68-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.
ÂąIncludes both the global Hines organization as well as RIA AUM as of December 31, 2024.
About Hines European Core Fund (HECF)
HECF was launched in 2006 with the aim of offering investors a stable income profile and outperformance against the benchmark through a diversified portfolio of high-quality properties in prime locations in major European cities. At the end of the 2024, HECF's portfolio was 95% occupied, with a total fund value of around EUR 3.1 billion. The fund's portfolio comprised 34 investments and 68 properties, invested in 16 urban markets in twelve European countries. In October 2024, HECF received the highest possible GRESB rating of five stars, was recognized as an industry leader for the eigth consecutive year and again ranked first in its global peer group.
