Patriam has agreed to acquire the property Fågelbärsträdet 12 at John Ericssonsgatan 4 next to Norr Mälarstrand in Stockholm for an underlying property value of SEK 75 million. The acquisition is financed with funds attributable to the company's completed green bond financing. The property, which has a land area of 332 square meters, today includes an existing residential building with a legally valid demolition permit and approved zoning plan. Access will take place during the first quarter of 2024.

Patriam intends, upon accession, to begin demolition work on the existing residential building and build a new residential building on the property.

"This is a unique opportunity for Patriam to acquire an inner-city property with a demolition permit and the opportunity to build a new apartment building in a fantastic location in central Stockholm," comments Andreas Holmberg, CEO of Patriam.

For further information, please contact:
Andreas Holmberg, CEO
E-mail: andreas.holmberg@patriam.se
Phone: +46 702093040

About Patriam
Patriam is a family-owned real estate developer based in Stockholm. The group was founded in 2015 and has its roots in the EBAB Group, which is one of Sweden's largest in projects and property development. Patriam is an experienced developer that focuses on attractive locations where both demand and purchasing power are expected to be good. Patriam is currently working on a handful of projects in Stockholm.