D. Carnegie & Co acquires 1,900 apartments in Norrköping

D. Carnegie & Co AB (publ) (“D. Carnegie & Co” or the “Company”) has, through a subsidiary, entered into an agreement with Sörmlandsporten AB regarding the acquisition of a property portfolio in Norrköping.

Through the acquisition, the Company becomes the owner of a well co-ordinated and strategically situated property portfolio in Norrköping, consisting of 1,900 apartments.. The transaction is effected through a share transfer and the purchase price is based on an underlying property value of approximately SEK 1,000 million. Completion is expected to occur in the fourth quarter of 2014. The properties have been previously included in the larger property portfolio that the Company acquired in July this year and Graflunds are therefore already taking care of property management and administration. As Kvalitena AB (publ) is a shareholder in both D. Carnegie & Co as well as Sörmlandsporten AB, the transaction is subject to approval at a General Meeting in D. Carnegie & Co to be held in October.

Ulf Nilsson, CEO, comments:

“We are happy to be able to acquire a well maintained residential portfolio, with an excellent location in Norrköping. Although it is situated in the outskirts of our geographic focus area, Norrköping is affected positively by the growth in Stockholm and we know, through the fact that Graflunds manages the properties, that it is a well-performing portfolio. We intend to continue the refinement of these properties through a successive refurbishment of apartments”.

About D. Carnegie & Co

D. Carnegie & Co is a real estate company focusing on residential properties within the Stockholm region and other growth areas. The Company’s business concept is to own and manage its real estate portfolio and to gradually refurbish apartments in connection with the natural turnover of tenants. This can take place quickly and cost-efficiently due to the Company’s established refurbishment method, BosystemTM. The refurbishment model is popular with both tenants and the Swedish Union of Tenants (Sw. Hyresgästsföreningen) as the apartments are attractively refurbished without any tenants being forced to vacate the premises.

During 2014, D. Carnegie & Co has acquired several large portfolios of workable residential properties mainly situated in Stockholm’s growth areas. As of 30 September 2014, the market value amounted to SEK 10,1 billion and the total rental value was estimated to amount to over SEK 1,000 million per year. The financial leasing rate is high and none of the properties are vacant. D. Carnegie & Co is listed on NASDAQ OMX First North since 9 April 2014. The Company’s Certified Adviser is G&W Fondkommission.

For further information, please contact:

Ulf Nilsson, CEO, D. Carnegie & Co

+46 (0)8 121 317 00

Further information is available on www.dcarnegie.se