Listed Swedish real estate company Kungsleden has announced that it has divested 97 commercial properties in eight cities in central and northern Sweden. The properties consist mainly of offices and industrial/warehouse buildings, and have been sold to Kungsleden’s Swedish peers Klovern and Dios, who will take possession on September 3rd. Combined, the properties have a total lettable area of 340,000 m2, and the rental value of the portfolio amounts to SEK 222 mln (EUR 24 mln).
Listed Swedish real estate company Kungsleden has announced that it has divested 97 commercial properties in eight cities in central and northern Sweden. The properties consist mainly of offices and industrial/warehouse buildings, and have been sold to Kungsleden’s Swedish peers Klovern and Dios, who will take possession on September 3rd. Combined, the properties have a total lettable area of 340,000 m2, and the rental value of the portfolio amounts to SEK 222 mln (EUR 24 mln).
The total sale value of SEK 1.7 bn (EUR 184.5 mln), provided a capital gain for Kungsleden of SEK 300 mln (EUR 32.5 mln). Kungsleden CEO Thomas Erseus had advised PropertyEU about the negotiations to sell the portfolio back in November 2006, and at that time anticipated that the transaction would complete in the second half of 2007.
