STOCKHOLM, Sweden, July 14, 2004 (PRIMEZONE) -- Skanska Project Development Sweden is selling the Myren 1 property in Huddinge, south of Stockholm, to the German property fund Deka-S-Property Fund No1 GmbH, managed by Deka Immobilien Investment GmbH, for SEK 265 M. The capital gain amounts to SEK 66 M and will be reported in the third quarter of 2004. The buyer gains access of the property on December 1, 2004 when payment will be made.
Myren is a logistics property of approximately 15,000 square meters, of which approximately 9,000 square meters forms an extension currently under construction. The building, which will be completed during the fourth quarter of 2004, is expected to be northern Europe's largest package-sorting terminal. The property is leased in its entirety to Sweden Post.
"This is yet another sale where Skanska's strategic focus of developing and selling commercial properties is being implemented with favorable results," says Hakan Danielsson, President of Skanska Fastigheter Stockholm AB. The transaction also reflects continued interest from foreign real-estate players in investing in the Swedish property market.
"We are extremely pleased with the acquisition of Myren 1, a distribution property in a favorable location and with a strong tenant and a secure income. Myren 1 is our fourth acquisition in Stockholm after CityCronan in the city center, Hilton 2 in Frosunda and Skogskarlen 2 in Bergshamra. This underlines our long-term interest in and favorable view of the Stockholm market," says Jens Gottler, Head of the Investment Department Europe North and West at Deka Immobilien Investment GmbH.
Deka Immobilien Investment GmbH is a member of DekaBank Group, the central investment services arm of the German Savings Banks Financial Group.
Skanska Project Development Sweden initiates, develops, manages and sells commercial properties (offices, and logistics and volume-trade facilities). It focuses on the Stockholm, Gothenburg and OEresund regions.
For further information please contact:
Hakan Danielsson, President, Skanska Fastigheter Stockholm AB, tel +46 8 504 350 70 Peter Gimbe, Senior Vice President Communications, Skanska AB, tel +46 8 753 88 38 Christian Fischer, Head of Marketing & Research, Deka, tel +49 69 7147 3021
This and previous releases can also be found at www.skanska.com
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