Listed Swedish property company Kungsleden is selling a commercial property for SEK 385 mln (EUR 40 mln) to automation technologies company ABB. The price reflects a property yield of 7.1%.
Listed Swedish property company Kungsleden is selling a commercial property for SEK 385 mln (EUR 40 mln) to automation technologies company ABB. The price reflects a property yield of 7.1%.
The 37,000 m2 industrial property is located in Karlskrona, southern Sweden, and is 100% let to ABB.
Completion will be on 7 December 2011.
'ABB has its own plans for this property, so it feels natural for them to realise them themselves. This is a good transaction, as well as the result of a positive collaboration with ABB,' commented Kungsleden's CEO Thomas Erséus.
Kungsleden owns 639 properties, valued at SEK 26 bn.
