Press releaseMay 28 2004

Kungsleden is buying!

Property company Kungsleden AB (publ) acquires two retirement homes and a school from PEAB for SEK 220 m.

The retirement homes Järven 6 of 5,400 sq m and Pjäsen 12 of 6,600 sq m are located in Norrköping and Visby, Gotland. The Järven 6 property will undergo a total restoration which is expected to be completed as of 1 April, 2005 and the property will then be let to the Municipality of Norrköping on a contract that runs until 31 March, 2020. The restoration cost is included in the purchase price. Pjäsen 12 is let to the Municipality of Gotland on a contract that runs until 31 May, 2029.

Järven 5 of 3,000 sq m is let to a private school on a contract that runs until 30 June, 2018.

The total rental revenues including interest subsidies amount to SEK 21.9 m. The property yield is estimated to 8.2 %.

- Good retirement homes property running on long contracts with a municipal counterpart fit our retirement home property portfolio well, Kungsleden CEO Jens Engwall comments.

Press contact

Anna Trane


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