Swedish listed property company Castellum has announced the sale of ten properties in Sundsvall and Östersund for SEKm 472 (€48 mln) to local stock exchange-listed investor NP3. 

sundsvall

Sundsvall

Days after announcing the divestment of SEK 4,500 mln (€460 mln) of assets in Sundsvall, Umeå and Luleå to local property investor Diös, the Nasdaq Stockholm-listed firm has released further assets from the Norrporten portfolio.

'The deal is part of the divestments we announced and means that we continue to concentrate our operations by reducing the number of cities where we operate,' commented Henrik Saxborn, Castellum´s CEO. 

Pangea Property Partners, a Nordic-based corporate finance and transaction advisory firm, acted for Castellum in both the sales to Diös and NP3. 

The four properties in Sundsvall and six in Östersund cover around 48,000 m2 and comprise office and warehouse premises. The sale means that Castellum is leaving Östersund.

The assets are 80% occupied and major tenants include Prolympia, Arbetsförmedlingen (the Swedish Public Employment Service) and Bridgestone Sweden.

Northern Swedish property owner NP3 Fastigheter is one of several Swedish property owners that listed on the stock exhange in recent years with the assistance of Catella, a financial advisor and asset manager.