GÖTEBORG, Sweden, May 18, 2020 /PRNewswire/ -- Castellum has acquired an office building in central Malmö from the Samhällsbyggnadsbolaget (SBB) real estate company. Occupancy will occur during Q2, 2020.
The acquisition comprises the Von Conow 57 property on Själbodgatan 6-8, with a total leasable area of approx. 6,800 sq.m. Purchase price amounts to MSEK 216, including acquisition costs. Additional consideration of MSEK 15 will be assessed in the event of further acquisitions prior to the end of September 2020. Major current tenant is the Swedish National Courts Administration, currently renting 98% of the leasable area.
"We're happy over the possibility of acquiring this office property in central Malmö. The Öresund region is important for Castellum, and our largest investments ever are taking place right now in Malmö with two new construction projects that will house the Swedish National Courts Administration and the E.ON international energy company as major tenants. This acquisition complements those investments very well," says Henrik Saxborn, CEO at Castellum AB.
Castellum is currently constructing the Swedish National Courts Administration's new building in the Nyhamnen district, and in connection with occupancy of that property, planned for yearend 2022, development work will begin at Von Conow 57. The acquisition also means that Castellum can ensure a smooth move for the National Courts Administration to the new premises under construction.
Castellum intends to finance the investment with existing operating income as well as unutilized credits.
Summary of the transaction: Castellum acquires the Von Conow 57 office building, located on Själbodgatan 6-8 in Malmö
Seller: Samhällsbyggnadsbolaget (SBB) real estate company
Acquisition price: MSEK 216
Occupancy date: Q2, 2020
Leasing value: Approx. MSEK 13 for 2020
Major tenant: The Swedish National Courts Administration
Leasable area and leasing rate: Approx. 6,800 sq.m, with an economic leasing rate of 100%
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Castellum is one of the largest listed real estate companies in Sweden. Property values total SEK 96.3 billion and holdings comprise office, warehousing/logistics and public-sector properties, covering a total leasable area of 4.3 million square metres. The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 17 Swedish cities, as well as Copenhagen and Helsinki. Castellum is ranked as the most gender-diverse of 600 listed European companies by European Women on Boards, 2020. Castellum is the only Nordic real estate/construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues. In 2019, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). The Castellum share is listed on Nasdaq Stockholm Large Cap. For further information visit www.castellum.com.
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