Rikshem AB Secures SEK 1.1 Billion Unsecured European Investment Bank Loan for Housing and Care Projects
Rikshem AB has entered a 10-year, unsecured loan agreement of SEK 1.1 billion with the European Investment Bank (EIB), the company announced Nov. 5. The financing will fund major new production and development projects with high energy performance and is intended to strengthen the Swedish residential and social-infrastructure owner's long-term financing structure and sustainability agenda.
Rikshem AB and European Investment Bank Loan Terms
The loan from the European Investment Bank carries a 10-year tenor and is unsecured, meaning it is not tied to specific collateral. Rikshem said the proceeds will be directed to six major projects in some of its prioritized growth areas, including Lund, Nacka and Uppsala.
The projects include both new production of rental apartments and the development and modernization of properties for public use, primarily in health and social care. Rikshem said the loan strengthens its long-term financing structure while supporting its sustainability agenda.
Västerbro in Lund Is the Largest Project
The largest single project covered by the financing is the next phase of the Västerbro urban development area in the city of Lund. Rikshem has completed 323 rental apartments at Västerbro and plans approximately 800 additional apartments in the next phase, bringing the total across the two phases to roughly 1,123 apartments. The company's press release describes the combined total as approximately 1,000 residential units.
Energy Performance Targets
The projects covered by the loan framework have a stated focus on sustainability. On average, the buildings are expected to achieve energy performance at least 30 percent better than current requirements or reference levels.
Rikshem already holds a separate SEK 1 billion loan from the EIB to finance energy efficiency improvements in existing properties. That facility, announced in 2019, primarily covered 1960s- and 1970s-era social housing in Uppsala, Stockholm, Västerås, Norrköping, Östersund and Helsingborg.
Executive Comments
"We are satisfied to further strengthen our relationship with EIB. The financing is an acknowledgement of the quality of our projects and our long-term strategy. The loan enables investments in energy-efficient rental apartments and properties for public use that meet a growing need," said Anette Frumerie, CEO of Rikshem.
EIB Vice-President Karl Nehammer said: "Europe needs to become more energy efficient, and the buildings we invest in today will shape our energy use for decades. We are pleased to build on our partnership with Rikshem, helping provide energy-efficient homes and modern care facilities that meet local needs in Sweden."
Rikshem's Portfolio and Financial Position
Rikshem's 2025 year-end reporting shows a portfolio of 464 properties with 28,788 apartments and 2.108 million square meters of leasable area. Economic occupancy stood at 94.8 percent. Rental income was SEK 3.647 billion, net operating income was SEK 2.100 billion and income from property management was SEK 1.273 billion. The company made property investments of SEK 1.390 billion in 2025.
The portfolio includes rental apartments, senior housing, nursing homes, student housing and youth apartments. Rikshem reported a SEK 211 million decline in investment-property values in 2025, compared with a SEK 405 million increase the prior year.
Swedish Market Context
Swedish multifamily construction has recovered modestly but remains well below its 2021 peak. Approximately 4,000 apartments were started in multifamily buildings across Greater Stockholm, Greater Gothenburg and Greater Malmö in the first quarter of 2026, up 26 percent year over year, while new development was still expected to remain substantially below historical highs.
Residential assets remained Sweden's most attractive investment segment in the third quarter of 2026, supported by stable cash flows and limited vacancy risk. Swedish residential investment volume was SEK 9.0 billion in the quarter, down 18 percent from SEK 11.0 billion a year earlier. Prime residential yields were 3.75 percent in Stockholm, 4.30 percent in Gothenburg and 4.50 percent in Malmö.
The Rikshem financing is a corporate debt placement rather than a property acquisition or sale, so no transaction price or cap rate applies. By combining long-duration unsecured capital with rental housing and public-use assets, it adds a European Investment Bank-backed funding source to a development pipeline in Lund, Nacka and Uppsala.
Sources
Rikshem press release, "EIB supports Rikshem's sustainable investments with a loan of SEK 1.1 billion," Nov. 5, 2026: https://www.rikshem.se/company-facts-in-english/pressroom/2026/11/eib-supports-rikshem-s-sustainable-investments-with-a-loan-of-sek-1-1-billion/