Kungsleden divests properties for SEK 65 m
Kungsleden AB (publ) is divesting two of its commercial properties for a total sales price of approximately SEK 65 m including transaction costs. The property yield is approximately 6.5%. The sales price exceeds book value by approximately SEK 5 m and the acquisition value by approximately SEK 9.5 m. The latter amount has been included in Kungsleden’s profit for calculating dividends for 2011.
The properties are retail properties with total leasable area of 6,221 sq.m. One of the properties is located at the Högdalen shopping centre in Stockholm and the other in Linköping in central Sweden.
Completion for the Linköping property was effected in May 2011. Completion for the Stockholm property is scheduled for 1 September 2011.
“I’m extremely satisfied to complete these transactions at well over book value and at a healthy profit,” commented Kungsleden’s Chief Executive Thomas Erséus.
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 13 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.