Swedish listed property development company Dagon has sold two hotel properties located in Karlskrona and Helsingborg, Sweden to hospitality group Tastsinn for SEK 276 mln (roughly EUR 30 mln). The hotel in Karlskrona was completed in March 2010. Both properties are operated by the Scandic hotel chain.
Swedish listed property development company Dagon has sold two hotel properties located in Karlskrona and Helsingborg, Sweden to hospitality group Tastsinn for SEK 276 mln (roughly EUR 30 mln). The hotel in Karlskrona was completed in March 2010. Both properties are operated by the Scandic hotel chain.
'The hotel in Karlskrona was completed recently and we had initially thought of holding the asset in our portfolio on a long term basis. As a professional and serious buyer showed interest to acquire both of our hotel properties, we chose to sell them,' said Roger Stjernborg Eriksson, managing director of Dagon.
He added: 'Hotel properties generally give a lower return and with the proceeds we can do new business with higher returns focusing on our core segments: warehouse, industrial, office and retail.' The transaction is expected to be completed on September 1.
Dagon is a public development company with a property portfolio of just over SEK 5 bn.
