As previously announced, Patriam has signed an agreement for the acquisition of a part of the Primus 1 property at Lilla Essingen, which is being accessed today. The zoning plan, which has become final, allows for the development of two co-operative apartment projects of approximately 8,200 sqm. The concept development of modern premium housing starts immediately. The underlying property value amounts to SEK 250 million. As the proceeds from the Company's new bond is released in connection with the accession of Patriam Lilla Essingen, the Company also calls for the redemption of outstanding bond loans 2020/2023 for a total of SEK 140 million.

The production of Patriam Lilla Essingen is planned to start in 2023 and the first occupancy is planned for 2024.

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

Ludvig Fredriksson, CFO
E-mail: ludvig.fredriksson@patriam.se
Phone: +46 721415128

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.