Press releaseApril 26 2002

New investments in housing for the elderly – Kungsleden to acquire more properties in partly owned company

The company that Kungsleden owns jointly with Pilen AB has acquired seven properties for use as housing for the elderly in Malmö. The acquired properties are: Storskarven 9, 12, 13, Bardisanen 14, Nicktisteln 2, as well as Tväråkern 16 and 17. The total floor space is 8,900 m2 and the purchase price is SEK 108 M. The acquisitions are being effected at an estimated direct yield of 8.1 per cent. Malmö municipality rents 80 per cent of the floor space.

"Housing for the elderly is a growth market offering major opportunities. In 2001, we acquired a portfolio of housing for the elderly for approximately SEK 1.2 billion. Within the company that we own jointly with Pilen, we acquired two properties earlier this week. We have now increased our holding with a further seven attractive properties that have stable tenants and long-term rental contracts," says Jens Engwall, CEO of Kungsleden.

For further information, contact:
Jens Engwall, CEO, Kungsleden, tel +46 (0)8-503 052 04, mobile +46 (0)70-690 65 50
Göran Linder, Business Area Manager, Housing for the Elderly, tel +46 (0)8-503 052 07, mobile +46 (0)70-690 65 75
Johan Risberg, Deputy CEO, Kungsleden, tel +46 (0)8-503 052 06, mobile +46 (0)70-690 65 65

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Anna Trane


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