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Municipality-owned Gavlegårdarna sells another 371 flats in Gävle, Sweden

NAI Svefa Press release

04 February 2010
Municipality-owned Gavlegårdarna sells another 371 flats in Gävle, Sweden

Gavlegårdarna, which previously advised that they would sell 600 flats in the next few years, announced earlier this year that the first 239 flats had been sold. Now another 371 flats have been sold, bringing the current sales commitment to an end.

The completed sale concerns 16 buildings renovated in the 1980s and located in the district of Brynäs. The purchase has been completed in company form at an underlying property value of around SEK 172 million. The stock comprises approximately 22,500 square metres, almost all of which is residential.

Ulf Egerfält, Head of Finance at Gavlegårdarna, says that they are happy NAI Svefa, which had been commissioned to make Gavlegårdarna's sales, were able to seal the deal once more with a very good profit and a strong buyer. The buyer is a newly-formed consortium made up of several well-reputed partners, famous names from Gävle's local business life, some from the property sector and some with a background working at one or two of the town's most historic companies.

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NAI Svefa is one of Sweden's largest property consultancies and successfully serves both public and private sector clients. We have 17 branches in Sweden and across the world via the NAI Global network – because we know that the best solutions are created near the client. With solid skills and genuine commitment, we offer value-adding solutions in property law, valuations, transactions, property information, arranging premises and tenant representation.

Prepared and Issued by NAI Svefa www.naisvefa.se/ Published to the Site www.naibaltics.com  by NAI Baltics – commercial real estate services in the Latvia, Lithuania, Estonia. Your trustworthy partner, advisor and consultant in the Baltics and Worldwide.


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Commercial Real Estate

"Avers Centrs Ltd with NAI Baltics as broker and investment acquisition consultant recently carried out a sale - leaseback transaction of its newly-built logistics warehouse complex in Riga, Latvia. We are very pleased with the transaction and NAI Baltics role in managing the transaction process, in particular considering current fluctuating market circumstances. NAI Baltics management of the process, from start to finish, was excellent, starting from the offering memorandum, to their management of the property tours, buyer selection process, due diligence and close. The entire team was extremely professional and knowledgeable. All during the complicated and lengthy transaction, their attentiveness, attention to details, clear and timely communication, the negotiating and mediation skills, and problem-solving abilities were notably worthwhile in completing a transaction. We are looking forward to working with NAI Baltics team again, and highly recommend them in the event you are considering utilizing their services."
Mihails Litevskis ( Михаил Литевский )
Member of the Board
Avers Centrs Ltd.

Commercial Real Estate

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