Fabege and Peab sell fully developed property in west Kungsholmen

Fabege and Peab sell fully developed property in west Kungsholmen

Fabege and Peab are selling their jointly owned (50/50) property Paradiset 29 on
Lindhagensgatan in Stockholm to cross-border investment manager, Invesco Real
Estate for one of their pan-European fund mandate. 

The property is being sold as a company with an underlying property value of SEK
842m (100%) and will result in an after-tax profit of SEK 20m for Fabege, which
will be recognised in the first quarter of 2010.

Fabege and Peab acquired what was at the time a bakery, Skogaholmsbageriet, in
2004. The bakery was demolished and developed into a new office and retail
complex with food retailer ICA Maxi as its largest tenant. The property
comprises 13,000 m2 of retail space and 10,300 m2 of offices plus garages.

Catella acted as adviser for the seller, while Invesco Real Estate's Nordic
operating partner, Scius Partners, advised the buyer during the acquisition
process. 

“The property is fully developed and is an attractive investment property with
good tenants, so it's a good investment for an institutional investor,”
Christian Hermelin, Fabege's CEO, says.


Fabege AB (publ)

For further information, please contact: 
Christian Hermelin, CEO, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25 
Åsa Bergström, Executive Vice President and CFO, phone +46 (0)8-555 148 29, +46
(0)706-66 13 80
Annette Kaunitz, Head of Corporate Communications, phone +46 (0)8-555 148 20,
+46 (0)708-390 337




This constitutes information that Fabege AB (publ) may be legally obliged to
publish under the Securities Market Act and/or the Financial Instruments Trading
Act. The information was released for publication at 8:30 am CET on 4 February
2010.


Fabege AB (publ) is one of Sweden's leading property companies focusing on
commercial premises. The book value of the company's property portfolio is
approximately SEK 29.2bn. The portfolio is concentrated to the Stockholm region
and has an annualised rental value of SEK 2.4bn and a lettable area of 1.4m
square metres. Fabege's shares are listed on the Nasdaq OMX Stockholm, Large Cap
segment.