Listed Swedish property company Kungsleden is selling 38 public properties to Hemsö for a total sum of SEK 912 mln (EUR 111 mln) excluding transaction costs. The sales price is consistent with book value and exceeds acquisition cost by approximately SEK 26 mln, Kungsleden said.
Listed Swedish property company Kungsleden is selling 38 public properties to Hemsö for a total sum of SEK 912 mln (EUR 111 mln) excluding transaction costs. The sales price is consistent with book value and exceeds acquisition cost by approximately SEK 26 mln, Kungsleden said.
The sale increases the company's equity by about SEK 39 mln or 2%. The transaction will be consolidated in the third quarter of 2012.
The properties are located in Härnösand, northern Sweden, and include housing for the elderly, health care and schools. The gross leasable area amounts to around 143,000 m2.
The transaction has been on the cards since the formation of Hemsö Fastighets and Hemsö has managed the property holding, legally owned by Kungsleden, since 2009. Following the transfer, Kungsleden will no longer own any remaining direct holdings in public properties except indirectly through its stake in Hemsö.
