Kungsleden acquiring SEK 435m of property
Press Release 20 December 2010
Listed Swedish property company Kungsleden AB (publ) is acquiring six commercial properties for a total purchase price of SEK 435m at a property yield of approx. 7.1 percent.
The properties consist of office, retail and warehouse and the gross leasable area amounts to approximately 34 000 sqm. They are of a very high standard, and for their businesses, in prime sites in Malmö. The total rental value is about SEK 34m.
Completion is scheduled to 2011, three of the properties 11 January,
two of the properties 1 April and one property 1 July.
“These properties are contemporary and flexible, as well as being in good locations in a strong region. The tenant structure is favourable with an average contract term of 5,3 years, ensuring good and stable returns over time,” 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 08:30 a.m
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.