Kungsleden—SEK 135 m property acquisition
Press Release 31 August 2010
Through Hemsö, its joint venture with AP3 (the Swedish Third Pension Insurance Fund), Swedish listed property company Kungsleden AB (publ) is acquiring a property for a total investment of SEK 135 m.
This property, a retirement home located in Uppsala, near Stockholm, will be constructed by Riksbyggen, with Hemsö taking possession when building is complete. The home will have 80 places with leasable area of approximately 5,500 sq.m.
A rental agreement has been signed with Attendo Care, which runs for 15 years. Completion is scheduled for spring 2012.
“A newly built retirement home in Uppsala on a long rental agreement, and which satisfies our required returns, is a good fit in our property portfolio,” 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 31 August 2010 at 9:00 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
This press release is available in Swedish at 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 June 2010, the property portfolio comprised 559 properties with a book value of SEK 21.9 bn. The holding was located in a total of 129 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been listed on Nasdaq OMX Stockholm since 1999.