Kungsleden sells five properties for SEK 151 m Listed Swedish property company Kungsleden AB (publ) is selling five properties for a total purchase price of SEK 151 m excluding transaction costs at a property yield of 7.1%. The sales price exceeds book value by approximately SEK 10 m and exceeds acquisition cost by about SEK 26 m. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2012. Four of the properties are located in Sollentuna, near Stockholm, and one property is in Visby, on the island of Gotland. Leasable area is around 18,200 sq.m. Completion is scheduled for 2 April 2012 “In an increasingly harsh investor climate, it feels good to start the year with a transaction at a good profit. Kungsleden’s business model is designed to improve the property portfolio’s risk-adjusted returns. Through the sale in Visby, we are also selling our only holding on Gotland. Accordingly, this transaction is a good example of active portfolio enhancement,” commented Kungsleden’s Chief Executive Thomas Erséus. [image] For more information, please contact: Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile +46 (0)70 378 20 24 Johan Risberg, Deputy CEO Kungsleden | phone 46 (0)8 503 052 06 | mobile +46 (0)70 690 65 65 www.kungsleden.se
Kungsleden sells five properties for SEK 151 m
| Source: Kungsleden AB