Kungsleden in property swap with Akelius
Listed Swedish property company Kungsleden AB (publ) is acquiring six properties for a purchase price of SEK 63 m and an estimated property yield of just over 7%. Simultaneously, two properties are sold for almost SEK 64 m, at a property yield of approximately 5%. The counterparty in both transactions is property company Akelius Fastigheter AB.
The acquired properties are located in Helsingborg, Lund, Linkoping and Boras. The properties have total lettable floor-space of almost 14,400 sq.m., the majority being retail and industrial space, with total rental value just over SEK 10 m.
The divested properties are two residential properties located in the southern Swedish cities Malmo and Karlskrona, with lettable floor-space of almost 5,000 sq.m. and rental value just over SEK 5 m. The sales price is nearly SEK 5 m above book value and exceeds acquisition value by almost SEK 5 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007.
All properties change possession on 30 September 2007.
For more information, please contact:
Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024
Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se