Castellum AB (STO:CAST) (publ) has sold 21 properties in Malmö and 7 properties in Lund. Sale price totalled SEKm 893, after transaction costs and deferred assessed taxes of SEKm 44, which is in line with the latest valuation. The properties are to be vacated by December 1st, 2016.
The recently sold portfolio covers 114 thousand sq.m., comprising 21 properties amounting to 88 thousand sq.m. in Malmö as well as 7 properties covering 26 thousand sq.m. in Lund. 9 of the 28 properties are site-leasehold rights.
The sale is aligned with ongoing portfolio development strategies that Castellum has been carrying out in Malmö and Lund, in order to achieve higher density and more efficient management in selected sub-markets.
"In connection with the Norrporten acquisition, Castellum had already announced upcoming divestments of SEK 4 billion, targeting properties which do not comprise a long-term strategic holding all with the purpose of retaining a strong balance sheet and creating an enhanced property portfolio in the future", says Henrik Saxborn, Castellum CEO. "This transaction is the first step, which enables us to refine the portfolio in Malmö and Lund to selected sub-markets."
Summary of the transaction:
Sale price: SEKm 893, after transaction costs and deferred assessed taxes of SEKm 44, which is in line with the latest valuation.
Premises vacated, effective: December 1, 2016.
Leasable area and occcupancy rate: Approx 114 thousand sq.m., with an occupancy rate of 75% during 2016.
Properties affected by this deal: Malmö: Murman 7, 8 and 11, Stillman 40, Skjutsstallslyckan 3, Haken 3, Flygfyren 1, Flygvärdinnan 4, Flygledaren 3, Skevrodret 1, Höjdrodret 3, Lillgrund 5, Bjälken 3, Betongen 11, Nejlikebuketten 4 and 6, Vårbuketten 3, Brandnäven 1 and 2, as well as Svedjenäven 3 and 4. Lund: Annedal 9, Traktorn 2 and 4, Trumlan 1, Välten 4 and 5, as well as Ådret 12.
Average lease duration: 3.2 years.
Rental value: SEKm 120 for 2016.
Major tenants: Mio, DHL, Malmö Municipality, Corsec, Purac.
This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 2 pm CET on October 19, 2016.
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 74 billion, and comprises of commercial properties for office, retail, warehouse and industrial with a total lettable area of approx. 4.7 million sq.m.
Castellum own and manage properties through one common brand in five geographical regions with strong local presence. The five geographical regions are: Central, North, Stockholm, West and Öresund.
In 2016, Castellum sustainability performance was awarded two top distinctions: First Prize for sustainability reporting in Europe from EPRA and Global Sector Leader, handed out by GRESB which means that Castellum is ranked first in the world within the office- and industrial-properties sector. Further Castellum has been selected as an index component of the Dow Jones Sustainability Indices (DJSI), which includes the companies in all industries in the world with best performance in terms of sustainability.
The Castellum share is listed on Nasdaq Stockholm Large Cap.
Castellum AB (publ), Box 2269, SE-403 14 Gothenburg Org nr/Corp Id no SE 556475-5550 Phone +46 31 60 74 00 Fax +46 31 13 17 55
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