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Karlatornet has a new partner in the form of Erik Selin and Balder, the companies announce in a press release.
– We have talked about this since before they started building. Since then, we’ve talked over and over all these years, but we started to look at it more intensely this summer. This is an agreement that will be good for both parties. We enter the middle of the tower but without construction risk, Serneke guarantees, and the right to buy commercial properties if we want, says Erik Selin.
READ MORE: The delayed tower rises and falls with the shoppers
READ MORE: The buyer of the top apartment in Karlatornet revealed: Ola Serneke himself
He continues:
– We will also become co-owners of Serneke and agree to buy 14,000 future rental apartments in Stockholm, Gothenburg and Malmö, in addition to some other properties. So it’s a very interesting deal, the whole package is a good investment, so it feels like fun.
Serneke: “Balder has always been a desired partner”
The transaction means that Balder acquires 8.2 percent of the shares of Serneke Group.
READ MORE: Serneke: Then the Charles Tower will start to be built again
READ MORE: Harsh criticism of Serneke after the plot about Karlatornet
In March, Serneke announced that the corona pandemic had caused Karlatornet’s then-buyer, Oaktree Capital Management, to back out. Since then, production has stopped.
Last November, Ola Serneke hinted that a new buyer was on the way, and now the company has signed a deal with Erik Selin and Balder.
– Balder has always been a desired partner for us from day one, and getting Balder as a partner in Karlatornet is an optimal solution for us, for the project and for the city, says Ola Serneke to GP.
Start building the Charles Tower again, then it can be moved
Ola Serneke and Erik Selin started arguing about Karlastaden as early as 2012.
– But in connection with the fact that we made an important deal together around this time last year, they started discussing other deals. One gave the other and we felt we cooperated well, says Ola Serneke.
The agreement means that construction on the Charles Tower will resume immediately. Serneke has updated the schedule and now expects the move to the skyscraper to begin in the second half of 2023.
– Now we take out a first set turf today and then it will be a complete roll to execute with the project, says Ola Serneke.
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