Kungsleden divests properties for SEK 100 m
Press Release 27 March 2009
Listed Swedish property company Kungsleden AB (publ) is divesting two properties for a total purchase price of SEK 100 m excluding transaction costs. Gross leasable area is 6,422 sq.m. and total rental value is approximately SEK 8.1 m. The buyer is Norr-Bil Förvaltnings AB.
The sales price of these properties is consistent with book value and some SEK 28 m above historical cost. The latter amount will be posted to Kungsleden’s profit for calculating dividends for 2009.
The properties are located in Åkersberga, north of Stockholm, and consist of 5 residential blocks with 68 apartments for senior citizens and a care building with 24 retirement home apartments.
Kungsleden will transfer possession on 1 July 2009.
Thomas Erséus, Kungsleden’s Chief Executive, commented: “I’m satisfied with this divestment, which we have done at a sales price consistent with book value and above historical cost. The deal comprises several housing properties and investing in housing properties is not in line with the core business of Kungsleden,” commented Kungsleden’s Chief Executive Thomas Erséus.
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 27 March 2009 at 1 p.m.