Swedish real estate company Corem Property Group has signed an agreement to divest 17 properties in the Stockholm area for an overall value of SEK 949 mln (€85.8 mln).
Most of the properties are located in Täby and Upplands-Väsby just north of Stockholm and four properties are located south of Stockholm in Huddinge, Botkyrka and Älvsjö.
The properties have around 65,000 m2 of lettable area and consist mainly of offices and warehouses.
The rental value is estimated at SEK 79 mln (€7 mln) and the economic occupancy rate amounts to approximately 95%.
Transfer of possession is planned to take place on 24 March 2023.
The sales of the properties are part of a divestment plan initiated in 2022 with the aim of boosting the balance sheet and focusing on long-term sustainable financing at a time of macroeconomic uncertainty.
Last December, Corem announced the divestment to Blackstone a portfolio of 47 properties with transfer of possession in February and April 2023.
