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ARTICLES TAGGED WITH "Bonava"

Bonava divests residential units in Germany

Sweden — Bonava is selling 176 rental apartments in Cologne, Germany, to a fund of Bayer pension schemes. In addition, production of 38 homes for consumers is being started in the same neighbourhood.

How Bonava wants to invest the capital from the Norwegian divestment

Nordic — Bonava sells its operations in Norway to Union Residential Development and with it leaves the Norwegian market completely. CEO Peter Wallin tells Nordic Property News how they arrived at the decision, how they will use the capital that is freed up and how Bonava views its other markets.

Bonava divests Norwegian operations to Union Residential Development

Norway — Bonava has reached an agreement to divest its Norwegian operations to Union Residential Development, a Norwegian real estate fund. The purchase price is SEK 1.5 billion (approximately EUR 129 million) and the transaction is expected to be finalised no later than the third quarter of 2023. The deal is pending approval from Norwegian authorities.

Bonava Makes New Attempt to Divest Russian Subsidiaries

Nordic — Bonava intends to divest its subsidiaries in St. Petersburg, and has reached an agreement with buyer RBI Group. Completion of the divestment is contingent on approval from authorities.

Pre-purchased Homes Can Become a Problem for Housing Developers

Nordic — The housing developers suffer greatly from the pending purchase willingness of households when it comes to new construction housing. It is difficult to raise the level of pre-purchased homes, although most people believe that there are still few unsold apartments at completion. But for those who signed up for pre-sale, the situation now looks radically different, where there are now reports that the buyers are trying to pull out of sale. Nordic Property News has taken a closer look at how big the exposure is for the companies with their homes that are under production.

Bonava's CEO on the Challenging Market

Nordic — Still major challenges, but improvements are visible in some of the regions' portfolios. That's CEO Peter Wallin's words about this year's first quarterly report for Bonava can be summed up. "The results look good in terms of margins, with a few exceptions. The machinery works."

Bonava Sells Apartments to EQ

Finland — Bonava is selling 75 rental apartments in Turku to the investor EQ. The housing units are expected to be completed and handed over to the customer in the second quarter of 2024.

Bonava Writes Down the NAV of the Operations in St. Petersburg

Sweden — Write-down of the net asset value of the operations in St. Petersburg in the fourth quarter 2022 for Bonava.

Bonava Sells Apartments in Germany

Sweden — Bonava is selling 94 rental apartments in Leipzig and 60 rental apartments in Dusseldorf, Germany, to the investor Industria. The transaction was closed during end of December 2022 and the amount is EUR 50 million. The first units are scheduled for completion and handover to customers in the second half of 2025.

Bonava Divests Russian Operations

Nordic — Bonava has entered into an agreement to divest Bonava’s subsidiaries in Russia for a purchase price of approximately EUR 98 M (SEK 1.1 Bn). The net financial impact amounts to approximately SEK -0.1 to -0.3 Bn and will be recognised when the transaction is finalised which is expected to be within six months.

Bonava Makes Residential Divestment to Taaleri

Finland — Bonava is selling 313 sustainable rental apartments in the Helsinki region, Finland, to the investor Taaleri. The transaction includes three rental housing projects and amounts to EUR 85 million.

Bonava Acquires Approximately 235 Building Rights in Oslo

Norway — Bonava has signed an agreement for the acquisition of approximately 12,000 square metres of land in the Jessheim district of Oslo, with plans to develop approximately 235 Nordic Swan ecolabelled housing units. The investment also includes approximately 4,900 square metres intended for commercial premises. The seller is a privately-owned residential developer and the transaction totals NOK 65 million.

More Units Recognised with Higher Margins for Bonava

Nordic — Bonava improves gross margin and increases profit before tax.

Bonava Sells 123 Rental Apartments in Espoo to Icecapital

Finland — Bonava is selling 123 rental apartments in Espoo to the investor Icecapital Housing Fund VI Ky. The first housing units are expected to be completed and handed over to the customer in the third quarter of 2024.

Bonava to Close Operations in St. Petersburg

Sweden — The Russian invasion of Ukraine is a humanitarian crisis and Bonava sympathises with all those affected. Bonava has made the decision to close its operations in Russia.

Bonava Comments on Russian Holdings

Nordic — Bonava comments on the state of their stock in Russia.

“The Situation Is a Human Catastrophe – Direct Effect on Business Not Clear Yet“

Finland — The Finnish residential developer Sato’s CEO Antti Aarnio on the Russian invasion of Ukraine, and whether a war will affect the company’s operations in Russia, going forward.

Bonava Buys Building Rights in Västerås

Sweden — Bonava has signed an agreement with Bostads AB Mimer to acquire approximately 270 building rights in Västerås. The transaction amounts to SEK 133 million.

Bonava Divests Helsinki Properties

Finland — Bonava is selling rental apartments in Helsinki, to the investor Sirius Capital Partners. The transaction amounts to EUR 16 million.

Bonava Sells Residential Units in Vantaa

Finland — Bonava is selling 53 rental apartments in Helsinki and 35 rental apartments in Vantaa, Finland, to the investor Icecapital. The transactions amount to EUR 24.9 million.

Bonava Acquires Approximately 370 Building Rights in Umeå

Sweden — Bonava has signed an agreement to acquire approximately 370 building rights for multi-family housing in Umeå from Motorcentralen. The final purchase price is based on the planned area for housing units and will be paid in conjunction with the zoning plan entering force, on a preliminary basis, in late 2023. The start of construction is planned for 2024.

Bonava Divests Copenhagen Assets to Ikano Bolig

Denmark — Bonava has signed an agreement to divest its remaining land bank in Copenhagen, Denmark, to Ikano Bolig A/S for a cash purchase price of SEK 545 million.

Bonava Appoints SVP, Human Resources

Sweden — Bonava has appointed Anna Wenner as new Senior Vice President for Human Resources of Bonava AB and a member of the Executive Management Group.

Business-Unit President to Leave Bonava

Nordic — Kristina Olsen has decided to leave Bonava and her role of BU President of Bonava Norway to work with an external assignment. Jonas Granström has been appointed Acting BU President and member of the Executive Management Group.

After the Danish Divestment: How Bonava Moves Forward

Nordic — Bonava's CEO Peter Wallin on what market they see greatest growth opportunities, why Norway is considered as an independent market from now, and his view on Sweden.