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Skanska sells multi-family development in Washington, D.C., USA, for approximately USD 141 M, about SEK 1.3 billion

6/20/2019 7:30 AM CET
Press release

Skanska has divested its multi-family development RESA in Washington, D.C., USA to Northwestern Mutual for approximately USD 141 M, about SEK 1.3 billion. Skanska USA Commercial Development will record the transaction in the second quarter of 2019 and the transfer of the property will occur in June 2019.

Skanska developed and built RESA, a 12-story, 326-unit luxury apartment building in the NoMA neighborhood in Washington, D.C. Construction of the LEED Gold project began in October 2016 and was completed in the second quarter of 2019.

Since 2009, Skanska has invested more than USD 2 billion in the U.S. in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.

Skanska is one of the leading development and construction companies in USA, specialized in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 67 billion in 2018 and had about 9,000 employees in its operations.

Contact: Beth Miller, Vice President, Communications
Telephone +1 917 438 4523