Partners Group invests in greater Stockholm region
Partners Group is investing in over 1,700 new apartments in the greater Stockholm area through a joint venture with Swedish company SSM.
The global private markets investment manager, based in Baar in the canton of Zug, is expected to invest more than €700 million in three projects together with Swedish residential developer SSM Holding AB. These are Tellus Towers, Järla Station and Metronomen, three separate residential developments, all within a 15-minute train ride from central Stockholm.
Small residential units in the affordable segment are planned. Tellus Towers will be the largest of the three projects and will include two residential towers, a hotel, retail space and a preschool with a total area of 57,000 square meters. The larger of the two residential towers is to have 78 floors, making it one of the tallest residential buildings in Northern Europe. The three residential projects are scheduled for completion between 2019 and 2021.
"Stockholm is one of the fastest growing cities in Europe in terms of population growth. However, housing supply has not kept up with demand and there is a significant shortage of housing units citywide. With this project, we are serving the great need in the market and look forward to adding a significant amount of efficient, modern and affordable housing to the city's real estate market," said Stuart Keith, Vice President Private Real Estate Europe at Partners Group on the occasion of the new agreement.
Partners Group is a global private markets investment manager with over 900 institutional investors worldwide. It currently manages assets of USD 66 billion with more than 950 employees in 19 offices worldwide.
