Kungsleden acquires eight properties for SEK 365 m
Press Release 22 August 2008
Listed Swedish property company Kungsleden AB (publ) is acquiring eight commercial properties located in six locations in central Sweden for a total purchase price of SEK 365 m including transaction costs. The seller is the Stampen group, Sweden’s largest newspaper owner. Several regional newspapers have their newsrooms located in the properties.
These properties have total lettable floor-space of some 52,000 sq.m., mainly consisting of offices (37 per cent) and production facilities (56 per cent). The biggest tenant is V-TAB, the largest printing group in the Nordic region, which provides some 60 per cent of total rental revenues. The average rental term of the portfolio is 6.5 years.
Kungsleden will take possession on 1 October.
“These properties suit Kungsleden’s existing property portfolio well in terms of their high and stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus, “We assess their risk level as low because they are in attractive locations and are flexible for different usage.”
Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 22 August 2008 at 8:30 a.m.