Fabege sells eight properties for EUR 145.4 mln

Fabege is selling a mixed-use portfolio to Swedish peer Dios & Kuylenstierna Forvaltning for SEK 1.35 bn (EUR 145.4 mln). The sale will result in an after-tax gain of about SEK 200 mln, Fabege said in a press release. The portfolio consists of eight properties that provide office, industrial and warehouse space.

Seven of the divested properties are located in Arsta, southern Sweden. The largest single asset is the 56,000 m² Botvid Business Center in Botkyrka, near Stockholm. The divested properties have a total floor space of about 182,000 m² and a total rental value, including vacant areas, of about SEK 148 mln.

'This deal is part of our continued drive to concentrate our holdings to units in our main markets that can be managed efficiently while divesting properties outside these areas at a good profit,' Fabege's CEO Christian Hermelin said.