Swedish property company Fabege has sold the Axet 1 and Bladet 1 properties in Solna to peer Vasakronan for SEK 570mln (EUR 61mln). The properties comprise a total lettable area of 31,650 m2, used primarily as office space. The buyer will take possession of the properties on 2 September 2008. The sale will result in a profit after tax of SEK 58mln, the group said.
Swedish property company Fabege has sold the Axet 1 and Bladet 1 properties in Solna to peer Vasakronan for SEK 570mln (EUR 61mln). The properties comprise a total lettable area of 31,650 m2, used primarily as office space. The buyer will take possession of the properties on 2 September 2008. The sale will result in a profit after tax of SEK 58mln, the group said.
'The sale is in line with our strategy of selling off properties outside our concentrated property management units. The properties, which are fully let, are located in Bergshamra, outside our priority sub-markets in Solna, and are deemed to have limited improvement potential,' said Fabege CEO Christian Hermelin.
