![]() ![]() The courses are used in refugee camps around the world. The language and mathematics courses are part of the foundation’s cooperation with UNICEF. Akelius Foundation is a large donor to UNICEF, SOS Children’s Villages, and other charities. The main shareholder of Akelius Residential Property AB is the Akelius Foundation with 85 percent. The UN Special Rapporteur on the right to adequate housing claimed that the company practiced renovictions to circumvent rent-control regulations and left residents living in unsafe construction sites for months, sometimes without access to running water or central heating. In April 2020, the United Nations Human Rights Council accused Akelius of human rights abuses. In response, the Berlin government provided a €10 million fund of interest-free loans to tenants struggling to make repayments. The rent cap was ruled unconstitutional in 2021 Akelius stated that they sought to reclaim the excess money from tenants. The company reacted to the Berlin government's rent cap in 2020 by adding "shadow rents" on leases, some of which were five times higher than the listed rent, which were to be paid retrospectively if the law were not to endure. The foundation is listed in the ICIJ's offshore leaks database. The foundation is registered as a non-profit organization in the Bahamas. The main shareholder of Akelius Residential Property AB is the Akelius Foundation with 85 percent, whose founder is the Swedish founder Akelius AB, Roger Akelius. Akelius Residential Property owns nineteen thousand rental apartments in New York, Boston, Washington D.C., Austin, Toronto, Montreal, Ottawa, Quebec City, Paris, and London. Most of its properties are in major metropolitan areas such as London, Paris, Berlin and New York City.Akelius lawn sign advertising units for rent in a building on Van Horne in MontrealĪkelius Residential Property AB ( Akelius Fastigheter until spring 2014) is an international residential real-estate company registered in Sweden. It owns 50,000 apartment units in Sweden, Germany, France, Canada, the UK and the US. The firm also bought 321 East 22nd Street, a 117-unit rental building in Gramercy, for $60.9 million.Īkelius’ parent company is the largest listed real estate firm in Sweden. The Chelsea properties contain 245 apartments, some of which are rent-stabilized. Late last month, the firm acquired 225 West 23rd Street and 220 West 24th Street for $100 million. We can buy almost everything, as long as it fits our strategy.”Īkelius recently added to its New York City holdings through large transactions. “The size of the property does not matter. “We buy from 10 units up to 400 to 500 units,” Spann said. The firm’s “cherry-pickingˮ isn’t limited to small purchases. In Brooklyn, we are focusing on Clinton Hill, Prospect Park, Bed-Stuy, Brooklyn Heights, Red Hook and Park Slope.” “Manhattan and Brooklyn are our main focus at the moment. So we buy quality before quantity,” Spann said. It is more important to find the right properties in a good location. Meaning it doesn’t matter the size of the building. This fits into a wider philosophy for their acquisitions. Maybe the property was neglected and decaying under the previous owner,” he said. “We like to buy properties with huge potential in terms of maintenance. The number of transactions also decreased by six percent to 2,419.Īccording to Spann, his firm is chasing a certain type of asset. For the period, the total value of investment sales deals across New York City dropped 39 percent to $18 billion. Who doesn’t want to be in New York? There are few cities in the world with the same charisma,” he said.Īkelius is an anomaly in a market with an increasing number of investors straddling the sidelines.Īccording to an August REBNY report, the city’s investment sales market posted declines in every major metric during the first half of 2017. Spann said that his firm’s entry to New York City was not based solely on economics. The firm plans to hold its New York City residential properties for the long term. It also acquired 90 Clinton Avenue, a five-story walk-up in Clinton Hill. The firm’s planned expansion will add to what has proven to be an active year for its New York City business.Īkelius Real Estate Management, the US subsidiary of Swedish firm Akelius, bought 185 Prospect Park, a ten-unit apartment building in Brooklyn, last July. “I would love to double the number of units between the next 18 to 24 months,” he said, referring to his firm’s 2,600-unit apartment portfolio across the Northeast. Spann, whose company is just two years removed from making its first New York City acquisition, is looking to initiate a growth spurt over the next two years. Ralf Spann, the CEO of Akelius Real Estate Management, is orchestrating the rapid expansion of his firm’s reach. ![]()
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