Karlastaden Group AB’s Acquisition of The Real Properties in The Auriga District

Setterwalls has advised Serneke on the deal.

Serneke is now continuing, together with Balder, its joint development of Karlastaden in Gothenburg. The Auriga district will contain a building that will have 36 floors and comprise approximately 48,000 square meters of gross area, containing approximately 400 apartments, as well as offices, and stores and restaurants on the bottom floor. It will become the third tallest building in the area and thereby also the third tallest residential building in Gothenburg, with a height of approximately 125 meters.

The transfer was made through two separate transactions, through which Serneke transferred the real properties in question to Karlastaden Group AB, a company jointly owned by the parties. The properties have an underlying property value amounting to in total SEK 586 million.

Serneke will also be responsible for the construction and development of the Auriga district, with an estimated order value of approximately SEK 1,650 million.

Serneke is one of Sweden’s largest construction companies with a comprehensive offering in contracting and project development.

The Setterwalls team included Anders Frick (Picture), Johannes Edvardsson, Alex Hallström, Malin Stenström.

Involved fees earner: Johannes Edvardsson – Setterwalls; Anders Frick – Setterwalls; Alex Hallström – Setterwalls; Malin Stenström – Setterwalls;

Law Firms: Setterwalls;

Clients: Serneke;

Federica Tiefenthaler

Author: Federica Tiefenthaler