London-listed CLS Holdings has exited the Swedish property market with the sale of its only investment asset in the country.
CLS sold the mixed-use property Vänerparken to a Bengt Linden, a proeprty company based in Stockholm, for SEK 590 mln (€64 mln).
The 38,900 m2 property comprises office, educational, residential, leisure and medical space in the south-westerm Swedish city of Vänersborg.
In a separate transaction, CLS redeemed at par its SEK 300 mln bond due 2016. The bond, which was issued in April 2011, was repaid on maturity on 27 April 2016 from the company's cash resources.
'We are delighted to have completed on the sale of Vänerparken following a number of lease renewals in 2015. The repayment of our Swedish bond is a natural consequence of selling our only investment property in Sweden,' said Henry Klotz, executive chairman of CLS Holdings.
