D. Carnegie & Co acquires property portfolio in Sollentuna
ET | Source:D. Carnegie & Co
D. Carnegie & Co AB (publ) (“D. Carnegie & Co” or the “Company”) has, through a
subsidiary, entered into an agreement regarding the acquisition of a property
portfolio in Sollentuna from Wallenstam AB (publ) (“Wallenstam”).
Through the acquisition, the Company becomes the owner of a well co-ordinated
and strategically situated property portfolio in Sollentuna, consisting of
approximately 450 apartments, with a total area of approximately 33 500 m2, and
7 900 sqm commercial premises. The transaction comprises the property Traktören
5 which includes the addresses Malmvägen 18, Tusbystråket 4-12, Oppegårdsstråket
5-11 and Tingsvägen 27-31.
The transaction is effected through a share transfer and the purchase price is
based on an underlying property value of approximately SEK 450 million.
Completion is expected to occur late during the third quarter of 2014. The
transaction also includes a possibility for Wallenstam to acquire a development
right in Tyresö for new construction of approximately 200 apartments after
completion of a pending zoning process.
Ulf Nilsson, CEO, comments:
“We are happy to be able to acquire a well maintained residential portfolio,
with an excellent location in an attractive part of the Stockholm region. We
intend to continue the refinement of these properties through a gradual
refurbishment of apartments”.
For further information, please contact:
Ulf Nilsson, CEO, D. Carnegie & Co
+46 (0)8 121 317 00
About D. Carnegie & Co
D. Carnegie & Co is a real estate company focusing on residential properties
within the Stockholm region and other growth areas. The Company’s business
concept is to own and manage its real estate portfolio and to gradually
refurbish apartments in connection with the natural turnover of tenants. This
can take place quickly and cost-efficiently due to the Company’s established
refurbishment method, BosystemTM. The refurbishment model is popular with both
tenants and the Swedish Union of Tenants (Sw. Hyresgästsföreningen) as the
apartments are attractively refurbished without any tenants being forced to
vacate the premises against their will.
At the beginning of 2014, Stendörren transferred its residential properties to
D. Carnegie & Co and thereby became the owner of a real estate portfolio
consisting of residential properties in Stockholm’s growth areas. As of 31
December 2013, the market value amounted to SEK 2,929 million and the total
rental value was estimated to amount to SEK 287 million per year. The financial
leasing rate is high and none of the properties are vacant. D. Carnegie & Co’s
real estate portfolio is situated in the Stockholm region. D. Carnegie & Co is
listed on NASDAQ OMX First North since 9 April 2014. The Company’s Certified
Adviser is G&W Fondkommission.
Further information is available on www.dcarnegie.se
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.