D. CARNEGIE & CO AB (publ) COMPLETES THE ACQUISITION OF 1,420 APARTMENTS IN THE STOCKHOLM REGION

D. Carnegie & Co AB (publ) has on 3 April 2018 completed the earlier announced acquisition of 27 properties for SEK 2.47 billion (before deduction for deferred tax amounting to SEK 0.21 billion). The properties are located in Järna, Söderhälje and Nynäshamn, all within Stockholm County, in close vicinity to portions of D. Carnegie’s existing portfolio. The transaction has been structured as a share deal.

SEKm
Total area 105,900 Rent value 134
Residential area 93,900 Net operating income 84
Municipality Number of apartments Level of refurbishment
Södertälje 807 Un refurbished 49%
Järna 381 Semi refurbished 25%
Nynäshamn 232 Fully refurbished 26%

The majority of the portfolio is situated in Södertälje and will drive meaningful synergies alongside D. Carnegie & Co’s current portfolio. 49% of the portfolio is not refurbished. In addition, D. Carnegie & Co has identified additional (though less capital intensive) refurbishment potential in approximately 25% of the portfolio.

The properties have been acquired from Akelius.

For further information, please contact CEO Svein Erik Lilleland, phone nr.+46 8 121 317 25

About D. Carnegie & Co

D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the company's renovation method which, among other things, means that no evacuation needs to take place. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to SEK 21,456 million on 31 December 2017. The total rental value amounted to SEK 1,576 million annually on 31 December 2017. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.

About Us

About D. Carnegie & Co D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the Bosystem renovation method which, among other things, means that no evacuation needs to take place. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to SEK 15,887 million as of September 30 2016. The total annual rental value amounted to SEK 1,366 million as of September 30 2016. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.

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