Castellum has signed an agreement with AP7 to divest a portfolio of nine public-sector properties located in Borås, Gothenburg, Jönköping, Malmö, Mölndal and Örebro, for a total underlying property value of SEK 5.6 Bn.
The properties comprise approximately 110,000 sq m of lettable area and consist of public sector properties primarily serving the judicial sector. The rental value amounts to SEK 332 M including time-limited annuities and SEK 278 M excluding these annuities. The economic occupancy rate is 100 per cent.
"Castellum has constructed and managed these properties in a value-creating way. We are now taking the next step and prioritising capital allocation in line with our goal of a 10 per cent return on equity. We are pleased to hand over these well-maintained properties to AP7, a natural and long-term owner going forward," says Pål Ahlsén, CEO, Castellum AB.
The underlying property value in the transaction amounts to SEK 5.6 Bn, compared with the carrying amount as of 31 December 2025 of approximately SEK 5.15 Bn, including the estimated remaining investment for ongoing projects.
The estimated total earnings effect from the transaction amounts to approximately SEK 750 M, of which approximately SEK 75 M is expected to be recognised as rental and service income (reversal of accrued annuities), approximately SEK 250 M as value changes on properties, approximately SEK -75 M as value changes in goodwill, and approximately SEK 500 M as deferred tax.
The transaction is conditional on approval by the Swedish Inspectorate of Strategic Products (ISP), the Swedish Competition Authority and certain major tenants.
The properties are planned to be transferred at closing on 29 April 2026, except for Göteborg Backa 20:6 and Jönköping Götaland 5 (part of), which are planned to close later in the second quarter of 2026 or during the third quarter 2026.
The transaction complies with the terms and conditions of all outstanding bonds.
The transaction in brief
Properties: Borås Hinden 2; Göteborg Backa 20:6; Göteborg Skår 58:1; Jönköping Götaland 5 (part of); Malmö Godsfinkan 1; Mölndal Sesamfröet 2; Örebro Korsningen 1; Örebro Lantmäteriet 2; Örebro Porten1.
Property type: Public-sector properties.
Closing date: 29 April 2026, except for Göteborg Backa 20:6 and Jönköping Götaland 5 (part of), which are planned to close later in Q2 2026 or during Q3 2026.
Average contract duration: 11 years.
Rental value: SEK 332 M including time-limited annuities and SEK 278 M excluding annuities.
Total leasable area: approximately 110,000 sq m.
Occupancy rate: 100 per cent.
For further information, please contact:
Pål Ahlsén, Chief Executive Officer, Castellum AB, +46 76 807 97 02
Christoffer Strömbäck, Acting CFO and Acting Head of Transactions, Castellum AB, +46 70 249 72 55
About Castellum
Castellum is a Swedish property company that owns, manages, and develops commercial properties in growth cities. As of 31 December 2025, the property value amounted to approximately SEK 137 Bn. The company is listed on Nasdaq Stockholm Large Cap and is classified as green under the Green Equity Designation. Castellum is the only Swedish property company included in the Dow Jones Sustainability Indices (DJSI).
Beyond expectations.
www.castellum.com
