Kungsleden acquires over SEK 1 bn of public properties
Listed Swedish property company Kungsleden AB (publ) is signing a letter of intent with the City of Vasteras regarding the acquisition of 13 public properties. The acquisition price of these properties is SEK 1,050 m including transaction costs. Total rental value is SEK 87 m.
Nine of these properties are retirement homes and sheltered housing, with the City of Vasteras renting all properties over 20 years. The lettable floor-space is 16,708 sq.m., and possession is scheduled to change hands on 1 June 2008. For four of the properties, with lettable floor space of 46,686 sq.m., the main tenant is Malardalen University. Kungsleden is scheduled to take possession on 1 April 2008. Total lettable floor-space amounts to 63,394 sq.m.
These deals are subject to approval by the municipal council.
Kungsleden’s Chief Executive, Thomas Erséus, commented: “I view this as a good investment in an expansive region, where Kungsleden already owns retirement homes, schools and pre-schools. We’re delighted to expand our assignments, which advances our positioning in the municipality.”
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
Göran Linder, Divisional Manager, Public Properties, tel +46 (0)8 503 05207, mobile +46 (0)70 690 6575
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 24 January 2008 at 3.15 p.m.