Kungsleden divests properties for SEK 205 m

Kungsleden divests properties for SEK 205 m

Press Release 13 December 2010

Listed Swedish property company Kungsleden AB (publ) is divesting six
properties for a total purchase price of approximately SEK 205 m in
three separate transactions, for a property yield of 4.5%. Five of these
properties are held in Hemsö, Kungsleden's joint venture with AP3 (the
Swedish Third Pension Insurance Fund). The sales price is approximately
SEK 4 m above book value, and about SEK 46 m above acquisition cost.
Some SEK 22 m will be posted to Kungsleden's profit for calculating
dividends for 2010.

One property is in Carlberlah, east of Hannover, Germany, with leasable
area of 3,066 sq.m. The tenant is the Red Cross, who is also the buyer
of the property. The purchase price amounts to approximately SEK 39 m.

Four of the properties are in Linköping, southwest of Stockholm, with
gross leasable area of 2,259 sq.m. Three of these properties are let as
pre-schools to the Municipality of Linköping. The fourth property
consists of accommodation adapted for the disabled and student
apartments. Vasaparken Fastighets AB is the buyer of all four
properties. The purchase price amounts to approximately SEK 26 m.

One property is at Roslagstull in Stockholm. The Red Cross runs a
retirement home in this property, which has leasable area of 5,188 sq.m.
The buyer of this property is Oscar Properties. The purchase price
amounts to approximately SEK 140 m.

Completion on the Linköping properties is with immediate effect.
Completion on the property in Germany will be in January, and on the
property in Stockholm, in summer 2012.

 

Kungsleden AB (publ) discloses the information in this press release
according to the Swedish Securities Markets Act and/or the Swedish
Financial Trading Act. The information was provided for public release
on 13 December 2010 at 9:00 a.m

For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 8 503 052 04 | mobile 46 70 378
20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 8 503 052 06 | mobile 46
70 690 65 65