D. CARNEGIE & CO AB ACQUIRES 749 APARTMENTS IN VÄSTERÅS
D. Carnegie & Co AB (publ) has entered into an agreement to acquire four properties from Bostads AB Mimer for SEK 765m (before deduction for deferred tax amounting to SEK 31m). The properties are all located in the Västerås in what is the first acquisition by D. Carnegie & Co of a property portfolio from a public housing company. The transaction is a share deal with closing scheduled in the first half of 2018.
The properties comprise 749 residential apartments. The annual rental value amounts to SEK 53m.
- We are extremely pleased to be entrusted with the ownership and management of this high-quality residential portfolio in the municipality of Västerås and to further increase the size of our property portfolio, which now comprises 20,226 residential apartments (including properties under contract), through this transaction. This is our first acquisition in Västerås, a fast-growing municipality which we believe in strongly. Västerås is well located and fits in with the rest of our property portfolio on the west side of Stockholm. In addition, we believe that the Västerås has promising growth and good development potential. This is also our first acquisition from the public sector and we look forward to becoming a trusted partner to this and other municipalities, says Svein Erik Lilleland, interim CEO of D. Carnegie & Co.
The properties are acquired from Bostads AB Mimer, fully owned by the Municipality of Västerås. The transaction will be formally approved by the Västerås City Council on 1 February 2018.
For further information, please contact interim VD Svein Erik Lilleland, phone nr.+46 8 121 317 25
This information is information that D. Carnegie & Co AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 3.45 p.m. CET on 18 December 2017.
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 20,594 million on 30 September 2017. The total rental value amounted to SEK 1,562 million annually on 30 September 2017. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.