Listed property company Kungsleden AB (publ) is acquiring 22 properties for a total price of SEK 395 m including transaction costs. The lettable floor-space comprises 107,000m2.

The majority of these properties, priced at approximately SEK 300 m, are located in Malmö and consist of office and warehouse premises at Jägersro and Fosie; the remaining properties are located in Gothenburg and Västerås. The initial property yield after property administration exceeds the company’s financial target of 8.5%.

The vendors are Skandia and Fastighetsrenting.

Kungsleden will take possession of the majority of the properties on 1 February 2002.

Jens Engwall, Kungsleden's Chief Executive, commented on the transaction: "This high-quality holding consolidates our position in Malmö, while some of the properties are suitable for onward sale."

For more information, please contact:
Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550