Swedish listed property company Kungsleden is selling six commercial properties for SEK 809 mln (EUR 86.6 mln) to ABB Fastighet. The sales price exceeds book value by SEK 23 mln. The properties are located in Ludvika, north west of Stockholm, and are largely let to ABB. The gross leasable area comes to 190,000 m[sup]2[/sup] and total rental value is about SEK 87 mln.
Swedish listed property company Kungsleden is selling six commercial properties for SEK 809 mln (EUR 86.6 mln) to ABB Fastighet. The sales price exceeds book value by SEK 23 mln. The properties are located in Ludvika, north west of Stockholm, and are largely let to ABB. The gross leasable area comes to 190,000 m2 and total rental value is about SEK 87 mln.
Kungsleden completed the divestment on 23 November 2010.
'Because Kungsleden's property portfolio in a location like Ludvika is already sizeable, we have opted to let ABB acquire the properties to develop this portfolio itself. After the divestment, ABB remains a significant tenant for Kungsleden', commented Kungsleden CEO Thomas Erséus.
