Press Release 13 December 2010
Listed Swedish property company Kungsleden AB (publ) is divesting six properties for a total purchase price of approximately SEK 205 m in three separate transactions, for a property yield of 4.5%. Five of these properties are held in Hemsö, Kungsleden’s joint venture with AP3 (the Swedish Third Pension Insurance Fund). The sales price is approximately SEK 4 m above book value, and about SEK 46 m above acquisition cost. Some SEK 22 m will be posted to Kungsleden’s profit for calculating dividends for 2010.
One property is in Carlberlah, east of Hannover, Germany, with leasable area of 3,066 sq.m. The tenant is the Red Cross, who is also the buyer of the property. The purchase price amounts to approximately SEK 39 m.
Four of the properties are in Linköping, southwest of Stockholm, with gross leasable area of 2,259 sq.m. Three of these properties are let as pre-schools to the Municipality of Linköping. The fourth property consists of accommodation adapted for the disabled and student apartments. Vasaparken Fastighets AB is the buyer of all four properties. The purchase price amounts to approximately SEK 26 m.
One property is at Roslagstull in Stockholm. The Red Cross runs a retirement home in this property, which has leasable area of 5,188 sq.m. The buyer of this property is Oscar Properties. The purchase price amounts to approximately SEK 140 m.
Completion on the Linköping properties is with immediate effect. Completion on the property in Germany will be in January, and on the property in Stockholm, in summer 2012.
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 13 December 2010 at 9:00 a.mRegulatory
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.