Listed Swedish property company Kungsleden AB (publ) is selling a retirement home in Germany for a total purchase price of approximately SEK 93 m, which is comparable to book value and corresponds to a property yield of about 7.9 per cent.
“The implementation of Kungsleden’s new business strategy doesn’t only mean us executing a large-scale purchase programme of properties in the industrial/warehouse and office segments in selected Swedish growth regions. Selling properties outside these core regions at the right time and at an acceptable price is also part of our strategic concentration. The sale of this retirement home in Germany is just such a transaction, which will help build the property po¬rtfolio we want for the long term,” commented Anders Kvist, Interim Chief Executive of Kungsleden.
Completion is scheduled for the third quarter of 2013.
For more information, please contact:
Anders Kvist, Interim Chief Executive Kungsleden | phone +46 8 503 052 11 | mobile +46 70 690 65 63
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 28 June 2013 at 9:00 a.m.
Kungsleden’s business concept is to own, manage and enhance properties in Sweden’s growth regions, and to generate sustainable high and stable returns. The focus on value creation is by satisfying customers’ needs for premises, managing and enhancing properties, and optimising the company’s property portfolio. Kungsleden has been quoted on Nasdaq OMX Stockholm since 1999.