STOCKHOLM, February 21, 2025 –Global investment firm KKR today announced the agreement with leading Swedish developers Reliwe and The Derome Group for the forward-purchase of three multifamily properties currently under development in Haninge, located just south of the Stockholm city center. The investment is being made by KKR’s European Real Estate strategy.
The development is comprised of three new properties totaling 382 residential units, expected to be completed between late 2026 and early 2027. Leading Swedish property developer Reliwe is overseeing the development, which includes two timber construction properties being built by Derome, a leading industrial business, and a third traditional concrete construction asset built to a high specification. The development is located adjacent to a bus terminal and railway station, offering excellent connectivity to Stockholm’s city center. The project is designed to meet high environmental standards and will deliver affordable modern urban living space with premium amenities and features.
“We are thrilled to make our first residential investment in Stockholm, which is an attractive market where we are seeing strong momentum towards our objective of building a portfolio of residential units by partnering with best-in-class partners such as Reliwe and Derome,” said Alexander Thams, Head of Nordics Real Estate for KKR. “This development exemplifies the type of high-quality, sustainable residential properties we aim to invest in. With Stockholm’s strong residential market fundamentals and the innovative use of timber construction, we see significant potential to deliver value to our investors while contributing positively to the community.”
“KKR’s decision to make this their first residential investment in Stockholm alongside us is a strong endorsement of what we have built and the innovation we continue to bring to the Swedish residential market. We look forward to delivering high-quality, sustainable residential properties. Central Haninge is a prime growth location, and we see significant potential in developing attractive apartments,” says Gurmo Endale, Partner at Reliwe.
“We are pleased to partner with Reliwe in this transaction with a leading industry player, KKR. Together, we look forward to completing this unique development with a significant share of timber construction, which contributes to sustainability. We are proud that KKR has chosen to invest in timber – a modern and environmentally responsible building solution with long-term benefits,” says Otto Martler, CEO for Derome BoPartner.
KKR will be working with local operating partner Cavendo on managing and growing the Stockholm residential platform. Roschier, Svalner, Red Management and Tango Capital Markets served as advisors on the transaction.
Over the past two years, KKR has committed approximately $550 million (SEK 6 billion) to its Nordics real estate investments, focusing on acquiring high-quality residential and logistics assets and transacting with strategic local counterparties. KKR’s global real estate business invests thematically in high-quality real estate through a full range of scaled equity and debt strategies. KKR’s more than 140 dedicated real estate investment and asset management professionals across 16 offices apply the capabilities and knowledge of KKR’s global platform to deliver outcomes for clients and investors.
About KKR