Press releaseJune 11 2004

Kungsleden acquires retirement homes

Swedish listed property corporation Kungsleden AB (publ) has acquired 8 retirement home properties from the central Swedish Municipality of Gävle and Gavlegårdarna AB

These properties contain 491 apartments intended as retirement homes, with the majority rented by the Municipality. Their lettable floor-space amounts to 48,930 sq.m., generating rental revenues of SEK 36 m, including interest subsidies. The Municipality generates 89% of the rental revenues; the average contract term is 14 years.

The acquisition price of the properties amounts to SEK 390 m including acquisition costs.

Commenting, Kungsleden’s Chief Executive Jens Engwall said: “Another acquisition direct from a municipality that unequivocally demonstrates how we’ve become an attractive retirement homes player for local government.”

For further information, please contact:
Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550
Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Press contact

Anna Trane


Tel: 08-503 052 20
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