This English text is an unofficial translation of the original Swedish release. It is provided solely for convenience. If any differences arise, the Swedish version shall prevail and is the only official information.
Titania has signed a new construction credit facility with Kinnerton of approximately SEK 200 million relating to the development of 44 townhouses in Kristineberg, Vallentuna. The development represents a sub-phase of Titania’s project comprising a total of 117 small houses. The financing solution strengthens the company’s financial flexibility and enables a continued high pace of project activation.
The project is already at an advanced stage, with construction in full swing. The homes are being built using Titania’s industrialized building platform in-house via New Living, where the houses are produced in the company’s own factory—contributing to more efficient construction processes, higher quality, and shorter lead times. Titania also sees very strong market demand for this type of housing, further supporting the project’s attractiveness.
The facility is structured on a pari passu basis, meaning that capital drawdowns are made pro rata between debt financing and equity, instead of according to an equity-first structure. This setup is advantageous from a liquidity perspective, as it reduces the initial capital requirement in the projects and frees up resources for additional investments.
“We are very pleased to have secured additional financing together with Kinnerton in a short period of time. The pari passu structure is a clear confirmation of confidence in Titania’s project portfolio and business model. It improves our liquidity profile and creates the conditions to start more projects in parallel. The Kristineberg project as such forms part of Titania’s strategy to develop the right homes for the right target group in each geographic area of the Stockholm region. In Kristineberg—which both offers a nature-close location and proximity to the amenities in Vallentuna town centre—we foresee strong future demand for precisely the type of space-efficient small houses we are building here,” says Fredrik Wisborn, Head of Transactions at Titania.
“We at Kinnerton are pleased to be able to finance another residential project in the Stockholm region. This project differs from our previous projects through its clear focus on producing environmentally adapted, nature-close homes for families with children,” notes Marit Nordmark, Kinnerton’s Head of Credit for Sweden and Finland.
For further information, please contact:
Anders Söderlund, CFO & Head of IR
[email protected], Tel: +46 8‑668 44 44
About Titania
Titania is a property development company focused on the in‑house development of residential housing in the Stockholm region. The company has the capacity to manage large-scale urban development projects from the early stages of the zoning process through to the completion of newly built residential areas. Titania retains a majority of the properties it develops as rental housing for its own long‑term management.
The company was founded in 2005 and is listed on Nasdaq First North.
Titania’s certified adviser is Eminova Fondkommission AB, Tel: +46 8‑684 211 10, email: [email protected]
