Swedish real estate investment company Castellum has divested 20 properties for a total sales price of SEK 2.3 bn (€204 mln) since the start of 2023.
The two most recent disposals were made at the Ideon Science Park in Lund to Axis Communications, which leases around 70% of the floor space at Forskaren 2 and Stockholmsledet 8, corresponding to around 51,000 m2.
There are possibilities for further development at Forskaren 2.
Joacim Sjöberg, CEO of Castellum, said: ‘We are pleased to be able to hand over well-managed properties to our tenant, Axis Communications, who has been a priority recipient of our finished properties at the Ideon Science Park in Lund. The divestment is in line with the company’s previous communication on net divestments in 2023 so as to strengthen the company’s financial position in a capital market that remains cautious.’
Ola Orsmark, managing director for Castellum region Öresund, commented: ‘Castellum still regards Lund as a key growth city with major opportunities going forward. Together with our customers, the municipality, and other stakeholders we will pursue development of our existing asset portfolio, our early phases with building rights and collaboration in Lund Municipality.’
Kristina Sawjani, CIO at Castellum, added: ‘The transaction market is active in Castellum’s segment, but closing is taking a little longer. The sale prices confirms our carrying amounts.’
Since January 2023, Castellum sold properties in Umeå (Aspgärdan 18); Gothenburg (Arendal 764:385); Linköping (Borgmästaren 2 and 11); Stockholm (Veddesta 2:37; Ostmästaren 2; Måttbandet 8; Räknestickan 2; Tunaberg 4; Täckeråker 2:227); Malmö (Noshjulet 3; Rektangeln 9; Påskbuketterna 5, 6, 8, 9 and 10; Kloren 1) and Lund (Forskaren 2, Stockholmsledet 8).
As of 31 March 2023, Castellum managed property with a total value of around SEK 174 bn (€15.4 bn), including the ownership share of the Norwegian company Entra ASA.
