Swedish landlord races to avoid downgrade with Dutch sale
Swedish landlord Heimstaden Bostad AB is targeting a cash injection of at least USD 620m by selling a chunk of its Dutch portfolio as it races to avert a credit rating downgrade.
By Sarah Jacob and Anton Wilen / Bloomberg
The residential property rental company, Heimstaden Bostad, one of the largest in Europe, owns about 13,500 homes in the Netherlands at a total book value of SEK 28.71bn (USD 2.6bn). The firm now plans to sell about 20% of this holding, or about 2,500 units, on an individual basis over the next two years, according to Michiel Vrijman, who runs the Dutch operations.
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