Rutley European Property is acquiring a Swedish property portfolio for SEK 1 bn (EUR 109.7 mln), reflecting a gross initial yield of 5.85%. The portfolio comprises five offices in the centre of Karlstad, mid-western Sweden, with a total area of 72,614 m[sup]2[/sup]. The assets are 96.5% let to a wide range of tenants, 68% of which are public bodies. The transaction is scheduled to be completed by June.
Rutley European Property is acquiring a Swedish property portfolio for SEK 1 bn (EUR 109.7 mln), reflecting a gross initial yield of 5.85%. The portfolio comprises five offices in the centre of Karlstad, mid-western Sweden, with a total area of 72,614 m2. The assets are 96.5% let to a wide range of tenants, 68% of which are public bodies. The transaction is scheduled to be completed by June.
Nick Burnell, a partner at Rutley Capital Partners said: 'This is a significant acquisition for the fund. It brings high quality income from excellent real estate assets and brings attractive geographical diversity to the portfolio.'
Rutley European Property is a real estate investment company managed by Ruley Capital Partners. The company was listed on London's stock exchange at the end of 2006.
