Kungsleden makes SEK 136 m public property acquisition
Through three separate transactions, listed Swedish property company Kungsleden AB (publ) is acquiring three properties in Borås, Karlskrona, and Trelleborg, all in southern Sweden. The total investment cost is SEK 136 m and the estimated property yield is 7.2%.
The Borås property is mostly let to an independent school, with the Municipality the main tenant of the remainder. The Karlskrona property is operated as a retirement home let by the Municipality and Blekinge County Council. The Trelleborg property is let to the police.
These properties have total lettable floor-space of approximately 16,500 sq.m. Total rental value is SEK 14.2 m. The average contract term is 10.6 years.
Commenting, Kungsleden’s Chief Executive Thomas Erséus said: “It feels really good to have more public properties, which secure our positioning further. These contracts give us high and stable returns for many years ahead.”
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 2 April 2008 at 10.00 a.m.
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se