Lund, Sweden, 2013-06-05 14:00 CEST (GLOBE NEWSWIRE) --
The real estate company Tribona AB (publ) is selling the property Kolven 2 in Helsingborg for a property value of SEK 931 million, which exceeds book value by SEK 5 million as of 31st March 2013.
The property consists of approximately 70,000 m² and is until 2021-09-30 fully let to ICA Fastigheter Sverige AB. The buyer is a recently established company owned jointly by ICA and another party. The property transaction is conducted as a corporate business and the withdrawal is scheduled for August 15.
This sale will make approximately SEK 200 million in liquidity available to be used for property acquistions and development of new-building projects under the current growth strategy, where the goal is to create a property portfolio of SEK 10-12 billion within 1-3 years.
In connection with this sale Tribona and ICA have agreed to extend four existing leases. The extensions means an extended lease on the same terms by 1.25 years in Arlöv, 1.5 years in Borlänge, 1.5 years in Kungälv and 4 years in Järfälla. The contract value of these extensions corresponds to about SEK 177 million.
"We are very pleased to be able to carry out the transaction at this level and that we also have been able to agree on lease extensions, which can further deepen our relationship with ICA. This sale frees up capital to invest in acquisitions and new-building projects with higher returns, "says Peter Strand, CEO in a statement.
Pangea Property Partner has been Tribonas advisor in the transaction.
For further information:
Peter Strand, CEO: + 46 70 588 16 61, e-mail: peter.strand@tribona.se
Tommy Åstrand, CFO: +46 70 545 59 97, email: tommy.astrand@tribona.se
This information is such that Tribona AB (publ) is obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was made available for publication on 5 June 2013, 14:00 CEST.
About Tribona
Tribona AB (publ) is Sweden's largest pure-play logistic property company. The property portfolio consists of modern and strategically located logistic properties, 19 in Sweden and one in Denmark, with a total lettable area of about 734 000 square meters. For more information, please visit www.tribona.se
