Diös has today taken over possession of 32 properties in Umeå, Luleå and Sundsvall to the value of SEK 4.5 billion
On November 21, 2016 Diös signed an agreement to acquire 32 properties from Castellum. The transaction was completed today and Diös has now taken over possession of the properties. The acquisition increases the total property value of approximately 34 percent and will after the transaction amount to around SEK 18 billion.
- I'm incredibly happy and pleased that we took the opportunity to acquire this high-quality property portfolio. It is absolutely the right properties in absolutely the right locations that complement our existing portfolio in a very good way. We see both economies of scale and revenue synergies of the acquisition, and we have created opportunities to improve our tenant offering, says Knut Rost, CEO Diös.
The acquisition will strengthen cash flow and make Diös to a larger company. The influence of the city center retail trade and urban development increases and the possibility of cooperation and collaboration with the tenants, municipalities and suppliers will be greater.
The financing was conducted partly through a rights issue of approximately SEK 1.8 billion and partly through new credit facilities of approximately SEK 2.7 billion. The financing structure strengthens equity ratio, while the loan-to-value is unchanged.
- The deal takes Diös to a new level and provide a more stable foundation to build from. Through effective management, active property development and transactions, we continue creating profitable growth and value for our shareholders, says Knut.
For further information, please contact:
Knut Rost, CEO Diös Fastigheter
Phone: +46 (0)10-470 95 01
Rolf Larsson, CFO Diös Fastigheter
Telefon: +46 (0)10-470 95 03
Diös Fastigheter owns and develops both commercial and residential properties in prioritized growth areas in northern Sweden. With a market value of SEK 17.7 billion, a portfolio of 345 properties and a lettable area of 1.567 sq., our vision is to be the most active and sought-after landlord in our market. The properties are located from Borlänge to Luleå with its head office in Östersund. The company has since 2005 had a continuous growth in value in the property portfolio and the share is listed on Nasdaq OMX Stockholm, Mid Cap. Learn more about Diös on www.dios.se