Kungsleden purchases property for SEK 132 m
Listed Swedish property company Kungsleden AB (publ) is purchasing a commercial property for a price of SEK 132 m excluding transaction costs, which is an acquisition price of approximately SEK 140 m including transaction costs. The initial property yield is 7.7%.
This property is located in Växjö, southern Sweden, and has gross leasable area of about 15,000 sq.m. The rental value is around SEK 18 m. Its two largest tenants are Växjö Fria Gymnasium senior high school and civil engineering firm Svevia AB, which represent just over half of rental value.
Completion is scheduled for 1 November 2011.
“I’m pleased that we participated in and made the winning bid on one of the largest properties in the first day of the Kefren portfolio auction. It was exciting that so many bidders took part in the auction, which I view as a sign of strength. Växjö is an expansive location and this property, with its stable tenants, fits our portfolio well,” 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
Johan Risberg, Deputy CEO Kungsleden | phone 46 (0)8 503 052 06 | mobile 46 (0)70 690 65 65
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 4 October 2011 at 08:00 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 30 June 2011, the property portfolio comprised 635 properties with a book value of SEK 26.1 bn. The portfolio was located in a total of 143 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.