Press Release 20 December 2010
Through Hemsö, its 50 percent joint venture with AP3 (the Swedish Third Pension Insurance Fund), listed Swedish property company Kungsleden AB (publ) is acquiring four properties for a total purchase price of about SEK 71 m including transaction costs. The property yield is 8.2%.
These properties are located in Skara municipality in South-western Sweden and have gross leasable area of 11,800 sq.m. Three of the properties belong to the Skara Campus area where SLU, the Swedish University of Agricultural Sciences, is located. Total rental value is approximately SEK 11 m.
The main tenants are SLU and the horse clinics of ATG, the Swedish Horse Racing Totalisator Board, who together make up 70% of the rental value, followed by the Blue Star Animal Hospital at 13%.
Completion on the properties is scheduled for 1 February 2011.
“I’m pleased that we increase our property portfolio in Skara where we already have a well-established cooperation with the municipality. The properties fit with the existing property portfolio with high and stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus.
Kungsleden AB (publ) 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 20 December 2010 at 9:00 a.m.Regulatory
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 8 503 052 04 | mobile 46 70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 8 503 052 06 | mobile 46 70 690 65 65
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 September 2010, the property portfolio comprised 559 properties with a book value of SEK 21.8 bn. The holding was located in a total of 130 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.