Stellar Buys Half Interest In Swedish Building Company

SEATTLE - Stellar International Holdings of Seattle has purchased a half interest in a $130 million real-estate and construction company in Linkoping, Sweden. No terms were disclosed.

The company, Bygg-Vesta, owns about 45 buildings in the Swedish city, mostly in the retail district housing shops and offices, said Lars Jonsson, Stellar president. Bygg-Vesta, which has about 30 employees, recently ran into financial difficulty and was being managed by a state-owned corporation until an investor could be found.

Jonsson said his Seattle-based company, founded in 1986, owns 2,000 apartments, primarily in Texas and the Atlanta area, and with about 200 in the Seattle area. He plans to spend about six months in his native Sweden getting the new company established.