Kungsleden selling properties for SEK 36 m
Press Release 23 February 2010
Listed Swedish property company Kungsleden AB (publ) is divesting four commercial properties for a total purchase price of approximately SEK 36 m. The property yield is nearly 7%. The total sales price is about SEK 2 m below book value and around SEK 6 m above acquisition cost. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010. Gross leasable area is some 4,000 sq.m. Three of the properties are located in Värnamo and one is in Kristianstad, both towns in southern Sweden. The properties mainly consist of retail, industrial and warehouse premises. The buyer of the Kristianstad property is Astral Holding AB and the buyer of the Värnamo properties is DaCapo AB. Completion on all properties is scheduled for 1 March 2010. “We’re continuing to work actively on portfolio composition,” commented Kungsleden’s Chief Executive Thomas Erséus, “and this is a good opportunity to sell a few properties to local landlords.” 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 23 February 2010 at 9:00 a.m.