Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a total purchase price of approximately SEK 82 m. The property yield is 6.1%. The sales price exceeds book value by SEK 11 m and acquisition cost by SEK 10 m. This latter amount is included in Kungsleden’s profit for calculating dividends for 2011.
This property is located in Umeå, north-eastern Sweden, and consists of four free-standing buildings. Leasable area is about x sq.m. The purchaser is Lumaf Förvaltning, held by the Lundgren brothers, Leif and Lennart.
Completion will be on 21 December 2011.
"We are continuing to work on enhancing our portfolio, and see a good opportunity to sell to a local player at a price exceeding book value,” 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 15 December 2011 at 2:00 p.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 September 2011, the property portfolio comprised 639 properties with a book value of SEK 26.5 bn. The portfolio was located in a total of 142 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.