Stockholm-listed Kungsleden has completed the acquisition of a portfolio of 84 commercial properties in Sweden from GE Capital Real Estate for SEK 5.5 bn (€619 mln).
Stockholm-listed Kungsleden has completed the acquisition of a portfolio of 84 commercial properties in Sweden from GE Capital Real Estate for SEK 5.5 bn (€619 mln).
The deal was initially announced on 22 October.
The acquisition was financed from existing credit facilities and new bank debt obtained from SEB, Swedbank, Nordea and Handelsbanken.
Kungsleden said that the new property portfolio fits very well into its new strategy which focuses on quality commercial properties in attractive locations in growth regions. About 70%of the acquired portfolio is located in Stockholm and Gothenburg.
The deal will increase the share of properties in Stockholm, Gothenburg and Malmö in Kungsleden’s portfolio to 50% from 30% today. The share of offices will increase to 50% from 39%.
