Kungsleden: SEK 83 m property divestments
Press Release 30 June 2009
Listed Swedish property company Kungsleden AB (publ) is selling seven commercial properties for a total purchase price of SEK 83 m. The sales price exceeds book value by over SEK 3 m, and is SEK 10.5 m less than acquisition cost. The divested properties have overall vacancies of some 20% in terms of rental value. The buyers are LW Fastigheter in Kalmar, southern Sweden and LW Industrifastigheter AB. Total rental value is approximately SEK 10.3 m and gross leasable area is 12,616 sq.m. Four of the properties are located in Kalmar, two are on the island of Öland and one is in Nybro, west of Kalmar. Possession is scheduled to transfer on 30 June 2009. “I’m pleased that we have done this deal above book value despite high vacancy in the holding,” 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 30 June 2009 at 1:00 p.m.