Listed Swedish property company Kungsleden AB (publ) is purchasing two public properties for a total purchase price of approximately SEK 98 m including transaction costs through Hemsö, which is 50:50 owned by Kungsleden and AP3 (the Swedish Third Pension Insurance Fund). The initial property yield is 7.1%.
The properties are located in Norrköping in central Sweden and have total leasable area of approximately 10,100 sq.m. The tenants are John Bauer high school and Prolympia compulsory school. The properties have agreements averaging 9 years with total rental value of approximately SEK 11,800,000.
Completion is scheduled for 1 September 2011.
“These are two attractive school properties with stable tenants and long agreements,” commented Kungsleden’s Chief Executive Thomas Erséus.Regulatory
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile 46 (0)70 378 20 24
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
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 18 July 2011 at 8:00 a.m.
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2011, the property portfolio comprised 629 properties with a book value of SEK 25.5 bn. The portfolio was located in a total of 141 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.