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. The residential project in Kista is targeting a Miljobyggnad Silver rating.

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.

“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,” says Simone Pozzato, Senior Managing Director at Hines and Fund Manager of HECF.

“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,” says Staffan Unge, Senior Managing Director and Country Head - Nordics at Hines.

Hines was advised by Cederquist, Tjuren, EY, Bergama & Newsec.