Castellum invests EUR 34m in Denmark and Sweden

Swedish listed property company Castellum has invested SEK 291 mln (EUR 34 mln) in properties in Denmark and Sweden. Castellum's subsidiary Fastighets AB Briggen acquired a 19,200 m² fully let warehouse and office property in Høje-Taastrup, west of central Copenhagen, for SEK 111 mln. The property comes with an additional 15,000 m² of unutilised building rights.

Briggen has also acquired a fully let office and warehouse property in Herlev, northwest of central Copenhagen. The property comprises 5,900 m² of space.

In the Swedish city of Lund, Briggen has purchased an industrial and warehouse property of 1,770 m² for SEK 17 mln. The property is situated near the company's existing portfolio in Lund and was vacant at the time of the acquisition.

Briggen has also embarked on the development of 2,400 m² of retail premises in Gastelyckan, Lund. The investment volume is SEK 29 mln and the property will be completed during the spring 2013.

Fastighets AB Brostaden, another subsidiary, has started development of a 6,500 m² warehouse/industrial property in Jordbro, Stockholm. The investment volume is SEK 66 mln and the property will be completed during the second quarter of 2013.

Castellum's subsidiaries have also sold three assets in Sweden for SEK 46 mln.

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to SEK 34 bn, and comprises premises for office, retail, warehouse and industrial purposes with a total lettable area of 3.4 million m². The real estate portfolio is owned and managed by six subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland.