Kungsleden makes SEK 565 m acquisition
Major listed Swedish property company Kungsleden is acquiring 13 retail and warehousing properties from the Runsven group for SEK 565 m. The Runsven group owns businesses including nationwide surplus retailer Överskottsbolaget, which is the largest tenant in the acquired holding. The properties comprise approximately 95,000 sq.m. of lettable floor-space, with rental value of over SEK 40 m. The average contract term is 12 years. Based on the acquisition price, the property yield is 6.4%. Kungsleden takes possession on 19 December.
“I’m very pleased that we’ve succeeded in doing this deal,” reported Kungsleden’s Chief Executive Thomas Erséus, commenting on the transaction, “the tenant is very profitable, and we hope we can help its continued progress in the coming years.”