Hines Makes First Swedish Residential Deal to Grow Nordic Platform

Hines has acquired its first residential asset in Sweden, signing a forward funding agreement with Magnolia Bostad, one of the largest Swedish residential developers, to deliver 310 residential apartments for rent in Kista, Stockholm.

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 sqm industrial asset in Jönköping secured on behalf of Hines European Property Partners (HEPP) in January 2024.

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.

Simone Pozzato, Senior Managing Director at Hines and Fund Manager of HECF, said: “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 need. We are looking forward to exploring opportunities to add more residential-for-rent assets to our growing portfolio”

Staffan Unge, Senior Managing Director and Country Head – Nordics at Hines, added: “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.”

Hines was advised by Cederquist, Tjuren, EY, Bergama & Newsec. The project is targeting a Miljobyggnad Silver rating.