Swedish real estate company Nyfosa has sold six office properties in Sweden to Diös Fastigheter for a total price of SEK 940 mln (€82.7 mln).
The transaction is carried out through divestment of the property-owning subsidiaries.
The properties, located in Gävle (Norr 12:5, Norr 25:5, Söder 18:19) and Luleå (Haren 15, Hermelinen 15, Spiggen 4) have a combined leasable area of 52,000 m2.
The three properties in each city have an occupancy rate of 94%, generating an estimated annual rental income of SEK 75 mln (€6.6 mln) and an annual rental value of SEK 88 mln (€7.7 mln). Major tenants include the Swedish Social Insurance Agency, the Swedish Public Employment Service, and Telia Sweden AB.
As of January 2025, approximately 15% of the properties are vacant, and the average remaining lease term is 2.7 years.
Stina Lindh Hök, CEO of Nyfosa, stated: ‘Through this divestment, we will release capital for new investments, with the purpose to strengthen Nyfosa’s cash flow and earnings.’
Annie Franzon, CTO, Diös, added: ‘The timing is just right to make this type of investment as we see opportunities for growth in a stronger economic environment. The properties offer great potential for value creation through renegotiation, leasing of vacancies, and energy efficiency improvements.’
The transaction will be financed through new loans and Diös' own funds. It is expected to produce a positive earnings effect for Nyfosa of SEK 68 mln (€5.9 mln).
A preliminary closing is planned for 15 November, subject to approval from the Swedish Inspectorate of Strategic Products.
