GOTHENBURG, Sweden, April 11, 2002 (PRIMEZONE) -- The Real Estate Company Castellum has, through its local subsidiaries, acquired and decided to investment in properties at a total of about SEK 260 million. In all, seven properties were disposed of at a total of SEK 77 million with a capital gain of SEK 17 million.
Eklandia Fastighets AB has sold a residential property of 2,685 sq.m. in the district Kalltorp in eastern Gothenburg to a new tenant-owners' association. The sales price amounted to SEKm 28 with a capital gain of SEKm 9.
In western Smaland the subsidiary, Fastighets AB Corallen, has disposed of five properties at a total of SEKm 47 with a capital gain of SEKm 7. The disposal comprise the two remaining residential properties in Varnamo of 892 respectively 3,061 sq.m. The sale price amounted to SEKm 26. Furthermore, Corallen has sold a warehouse and industrial property of 1,712 sq.m. in Gislaved at a total of SEKm 4. Corallen has also sold a combined warehouse and office property of 6,405 sq.m. in Jonkoping and a office property of 906 sq.m. in Varnamo at a sales price of SEKm 13, respectively SEKm 4.
Fastighets AB Briggen has made a disposal of a smaller residential property in Helsingborg at a sales price of SEKm 2.
Of the above mentioned disposals at a total of SEKm 77, with a capital gain of SEKm 17, the sum of SEKm 60, respectively, SEKm 9 will be accounted during the first quarter 2002. The rest will be accounted during the second quarter.
During April, the subsidiaries Harry Sjogren AB and Eklandia Fastighets AB, in one transaction, acquired five properties with a total of 33,000 sq.m in Greater Gothenburg at a total of SEKm 172. The acquision comprises two office properties of 15,100, respectively 8,000 sq.m. in the western part of Hogsbo working area, one office property of 4,700 sq.m. in Abro working area in connection to E6 and Soderleden, one office and enterprise property of 3,300 sq.m. on Ringon nearby Gota alv, also including a building right of about 3,000 sq.m. and one warehouse and industrial property of 1,900 sq.m. situated in Varla industrial area in connection to the north exit from E6-highway to Kungsbacka. The acquired properties will be valuable complements to the other holdings in respective area. The actual economic occupancy rate for the acquired properties is about 65%.
During April, Corallen has acquired an office property of 5,665 sq.m in Vaxjo at a total of SEKm 55. The property has an excellent location close to Stortorget.
Along Soderleden in Molndal, Harry Sjogren AB owns a property that's including a building right of about 3,400 sq.m. lettable area. The company will build a property that includes office, exhibition/retail and warehouse premises. About 80 % of the total lettable area are contracted. The investment is estimated to a total of around SEKm 30.
Castellum, which is one of the major real estate companies in Sweden operating solely in the real estate sector, owns properties with a book value of about SEK 12 billion. The total lettable area, which comprises commercial premises as well as residential housing, amounts to 2.3 million square metres. The real estate portfolio, which is owned and managed by six local subsidiaries, is concentrated in Greater Gothenburg, the Oresund region, Greater Stockholm, western Smaland and Malardalen. The Castellum share is listed on the Stockholmsborsen (Stockholm Exchange) O-list, Attract 40.
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