Listed Swedish property company Kungsleden said on Thursday that it is signing a letter of intent with the City of Vasteras for the acquisition of 13 public properties. The acquisition price of these properties is SEK 1.05 bn (EUR 106 mln), including transaction costs. The total rental value is SEK 87 mln.
Listed Swedish property company Kungsleden said on Thursday that it is signing a letter of intent with the City of Vasteras for the acquisition of 13 public properties. The acquisition price of these properties is SEK 1.05 bn (EUR 106 mln), including transaction costs. The total rental value is SEK 87 mln.
Nine of these properties are retirement homes and sheltered housing, with the City of Vasteras renting all properties over 20 years. The total lettable floor-space is 16,708 m2, and possession is scheduled to change hands on 1 June 2008. Malardalen University is the main tenant of four of the properties with lettable floor space of 46,686 m2. Kungsleden is scheduled to take possession of these properties on 1 April.The deals are subject to approval by the municipal council.
Kungsleden CEO Thomas Erséus commented: 'I view this as a good investment in an expansive region, where Kungsleden already owns retirement homes, schools and pre-schools. We're delighted to expand our assignments, which advances our positioning in the municipality.'
