Listed Swedish property company Kungsleden is acquiring six public properties in Norrkoping and Nykoping near Stockholm from GE Real Estate Norden for SEK 955 mln (EUR 101 mln) including transaction costs.
Listed Swedish property company Kungsleden is acquiring six public properties in Norrkoping and Nykoping near Stockholm from GE Real Estate Norden for SEK 955 mln (EUR 101 mln) including transaction costs.
The properties have total leasable floor-space of approximately 89,300 m2, mainly consisting of offices and school premises. The major tenants include the Police Authority, the Swedish National Courts Administration, the Swedish Civil Aviation Administration, the Swedish Meteorological and Hydrological Institute, and the Swedish Prison. Total rental value is just over SEK 94.6 mln, reflecting a yield of 6.8%. The average remaining duration of rental contracts is about six years.
'The tenants, mainly central government bodies and authorities, combined with these well-located, good properties make this portfolio very attractive,' said Kungsleden's CEO Thomas Erséus.
