Castellum reallocate the portfolio in Stockholm and sells for SEKm 822
Castellum AB (publ) has, through its wholly owned subsidiary Fastighets AB Brostaden, sold a portfolio consisting of eleven office properties totaling approx. 88,500 sq.m. in the northern Stockholm region. The properties are located in Akalla, Upplands Väsby, Kista and Sollentuna and have an occupancy rate of approx. 70%. The net sale price amounted to SEKm 822 after reduction for assessed deferred tax and transaction costs of SEKm 14, which is in line with the latest valuation. Due to the transaction a reserve for accrual rental discount will be carried as an expense, which will affect the sale income with SEKm -20. The change of possession will take place December 8, 2015.
"The purpose of the transaction is to continue to reallocate the portfolio in Stockholm and to concentrate our portfolio in selected markets”, says Henrik Saxborn, CEO of Castellum AB. "In January we made an acquisition in Marievik and in September we established ourselves on Kungsholmen in the center of Stockholm".
The transaction in brief:
Selling price: SEKm 822 net after reduction for assessed deferred tax and transaction costs of SEKm 14, which is in line with the latest valuation.
Date for change of possession: December 8, 2015.
Lettable area and occupancy rate: 88,563 sq.m. office premises with an occupancy rate of approx. 70%.
Distribution of area in each market: Akalla 44,959 sq.m., Upplands Väsby 25,542 sq.m., Kista 11,764 sq.m. and Sollentuna 6,298 sq.m.
Properties that the deal includes: Ekenäs 1-4, Karis 3 and 4, Sätesdalen 2 in Stockholm; Hammarby-Smedby 1: 454 and 1: 461 in Upplands-Väsby; Ringpärmen 4 and Sjöstugan 1 in Sollentuna.
Average rental period / the remaining time of contract: approx. 2 years.
Rental income: SEKm 88 during 2015.
Tenants: About 150. The largest is Microsoft AB, whose rental value is 17%. Among the tenants are also SC Motors Sweden AB, Sandbergska Competens AB, Agility AB, and NDA Regulatory Service.
Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
For further information, please contact
Henrik Saxborn, CEO, phone +46 31-60 74 50
Ulrika Danielsson, CFO, mobile +46 706-47 12 61
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 41 billion, and comprises premises for office, retail, warehouse and industrial purposes with a total lettable area of approx 3.4 million sq.m. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland.
Castellum sustainability performance has, during 2015, been awarded with two top distinctions. The World Green Building Council’s award Business Leadership in Sustainability and “Green Star 2015” by GRESB which means that Castellum is one of the highest ranking companies in the world in the real estate sector.
Castellum is listed on NASDAQ Stockholm Large Cap.
Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Org nr/Corp Id no SE 556475-5550 | Phone +46 31 60 74 00 Fax +46 31 13 17 55