Heimstaden Bostad to pay Residomo €1.3bn for 43,000 rental flats

The Swedish firm Heimstaden Bostad has bought Residomo's portfolio of 43,000 rental apartments in northern Moravia for €1.3bn. Negotiations had been going on for several months, according to the daily Hospodářské noviny. Heimstaden Bostad is listed on the Nasdaq First North Premier exchange in Stockholm and ranks as one of the largest owners of rental apartments in Europe, with activities in six countries. The company reported a CZK 7bn profit last year. "Its general director Patrik Hall said "Our entry onto the Czech rental residential market is a long-term investment." The deal, which still has to be approved by the anti-monopoly office, shouldn't change anything for the tenants of the apartments. Many of them still believe they should have been given the right to buy their apartments at reduced prices before they were sold by the mining company OKD to Residomo.