M&A-transaktioner på fastighetsmarknaden - Varför sker de och vilka effekter ger de?

Sammanfattning: This study aims to research the motives for and value creation from M&A transactions in the Swedish Real Estate Market. All transactions in the period 2017-2021 were analyzed in detail. Interviews were conducted with companies that participated in these transactions, the purpose of these interviews were getting official motives and value creating factors from M&A transactions. Finally, 17 companies were contacted and asked if they had any concrete examples of cost reductions due to an M&A. The study showed that the purchasing companies often have something in common with the target company, this similarity can be property, geographical or strategy related. The common denominator for the interviewed companies turned out to be financial benefits that larger companies have. Other benefits were acquiring competence, reduced transaction costs, and reduced management costs. Growth can have a downside which is increased maintenance costs due to centralization and a large number of properties. The effects that this can have is increased property value due more large companies with cheap financing, this will lower the yields across the market. Smaller companies can compete by offering good maintenance at low costs, medium sized companies therefore might have trouble existing on their own.