KKR鈥檚 European real estate strategy is acquiring a multifamily housing project in Sweden from developers Reliwe and The Derome Group.
The global investment firm said it has agreed to forward-purchase the three multifamily properties under construction in Haninge, near Stockholm. Financial details were undisclosed.
The development, comprising 382 residential units, is expected to be completed between late 2026 and early 2027.
Alexander Thams, the head of Nordics real estate at KKR, said: 鈥淲e are thrilled to make our first residential investment in Stockholm, which is an attractive market where we are seeing strong momentum towards our objective of building a portfolio of residential units by partnering with best-in-class partners such as Reliwe and Derome.
鈥淭his development exemplifies the type of high-quality, sustainable residential properties we aim to invest in. With Stockholm鈥檚 strong residential market fundamentals and the innovative use of timber construction, we see significant potential to deliver value to our investors while contributing positively to the community.鈥�
KKR said it will be working with local operating partner Cavendo on managing and growing the Stockholm residential platform.
Gurmo Endale, partner at Reliwe, said: 鈥淜KR鈥檚 decision to make this their first residential investment in Stockholm alongside us is a strong endorsement of what we have built and the innovation we continue to bring to the Swedish residential market.
鈥淲e look forward to delivering high-quality, sustainable residential properties. Central Haninge is a prime growth location, and we see significant potential in developing attractive apartments.鈥�
Otto Martler, CEO at Derome BoPartner, said: 鈥漌e are pleased to partner with Reliwe in this transaction with a leading industry player, KKR. Together, we look forward to completing this unique development with a significant share of timber construction, which contributes to sustainability.
鈥淲e are proud that KKR has chosen to invest in timber 鈥� a modern and environmentally responsible building solution with long-term benefits.鈥�
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