Through Hemsö, its joint venture with AP3 (the Swedish Third Pension Insurance Fund), listed Swedish property company Kungsleden AB (publ) is purchasing six properties for a total purchase price of SEK 396 m excluding transaction costs. The property yield amounts to approximately 6.7%.
This property portfolio consists of a retirement home and three schools in the northern Swedish city of Umeå, one school in Eskilstuna, west of Stockholm, and a police station in Eksjö, south west of Stockholm. The tenants are the Municipality of Umeå, the International English School and Jönköping Police Authority.
Total rental value amounts to about SEK 34 m.
Completion is scheduled for 30 March 2012.
“These properties fit well into Hemsö’s portfolio with long leases averaging ten years of remaining contract term, which ensures stable, long-term returns,” 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 14 February 2012 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 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.