Nrep strengthens residential portfolio with acquisition of 231 rental apartments

Real estate investor Nrep is acquiring a 231-apartment residential development in Årsta Park in Uppsala, Sweden. Valued at SEK 485 million, the transaction has occurred between Nrep and Bonava, the project’s developer and seller. The acquisition further strengthens Nrep’s growing Swedish residential portfolio and was executed via Nrep’s NSF V Fund.

Once complete, the new apartments will be split across five buildings, offering modern and well-designed homes with direct access to one of Uppsala’s largest park areas. Situated close to amenities, schools, and convenient transportation options, the project aims to create an attractive and sustainable living environment that promotes a high quality of life.

High environmental standards will be met through sustainable building materials, solar panels and green concrete in the construction frame. These measures are projected to reduce carbon dioxide emissions by 20 percent during the construction phase compared to the original plan. The project aligns with Nrep’s SBTi 2028 goal.

Carl-Adam von Schéele, Head of Nrep Sweden, said: “Uppsala has experienced significant population growth, leading to a housing supply and demand imbalance. This acquisition strengthens our partnership with Bonava while providing more modern and sustainable rental apartments in a high-demand area. By combining superior housing quality with a focus on sustainability, we aim to create value for both residents and the city’s development.”

Nrep has shown significant growth in the residential segment in Sweden, with approximately 3,700 homes currently under development. As the main shareholder in Stockholm’s largest residential developer, Klövern, which possesses around 18,000 additional building rights for future projects, the company is dedicated to fostering a more accessible and sustainable housing market. Nrep is a part of the Urban Partners investment platform, alongside Velo Capital and 2150, working together to address the challenges and opportunities brought forth by urbanisation.

Bonava is overseeing the development and construction of the project, with construction set to begin shortly. The first homes are expected to be ready in Q2 of 2026.