Swedish commercial and residential property developer Diös Fastigheter has sold a residential property portfolio in Sweden for SEK 385 mln (€34 mln).
The underlying property value is in line with the book value.
The 22 residential properties, covering a leasable area of 26,000 m2 in Östersund and Gävle, have been sold to Swedish company Runnstaden. One divested property is Handlanden 4, located in Frösön, Östersund.
The properties have an annual rental value of SEK 34 mln (€3 mln) and an economic occupancy rate of 98%.
Annie Franzon, head of transactions, Diös, said: ‘The divestment creates new conditions for us to focus our portfolio towards commercial properties, and especially office spaces, which is the segment where we see the strongest development and greatest potential in our business. At the same time, we strengthen our financial position. The divested properties are primarily residential and we are convinced that Runnstaden is the right company to further develop these.’
Diös is one of Sweden's largest property owners with a market-leading position in ten growth cities in northern Sweden, a property value of SEK 31 bn (€2.7 bn), and a portfolio of 359 properties.
