Fabege growing in Solna
Fabege is acquiring the Stora Frösunda 2 and Hagalund 2:2 properties in Solna from Catena. The acquisition increases Fabege’s portfolio of development rights directly adjacent to Arenastaden.
On 28 May 2015, Fabege and Catena AB (publ) signed an agreement whereby Fabege is to acquire the project properties Stora Frösunda 2 and Haglund 2:2 located beside the Frösundaleden highway in Solna, “Haga Norra”. The properties have a site area of about 51,000 sqm and, according to the new zoning plan, comprise approximately 225,000 sqm of development rights for residential and commercial use. The property is currently developed as a car showroom for Bilia.
The acquisition will be effected at a property value of SEK 1,450m, with possession scheduled to be taken in June 2015. The transaction is subject to approval by an extraordinary general meeting of Catena shareholders, since it is considered a related-party transaction due to Fabege’s controlling interest in Catena.
The zoning plan for the Haga Norra area has been established and development planning can commence. Of the total volume of development rights, housing accounts for approximately 90,000 sqm. The remainder pertains to commercial development rights, thus favourably complementing Fabege’s existing portfolio in Solna/Arenastaden.
“As a result of the acquisition, we ensure access to attractive office development rights in an area with very good transport links. We continue to see great potential from Fabege’s future development of Arenastaden,” comments Christian Hermelin, President and CEO of Fabege.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, President and CEO of Fabege, tel: +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, tel: +46 (0)8-555 148 29, +46 (0)706-66 13 80
Klaus Hansen Vikström, Deputy CEO and Director of Business Development, tel +46 8-555 148 74, +46 70-239 34 81
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 12:00 am CET on 28 May 2015.
Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. The carrying amount of the company’s property portfolio is approximately SEK 33.8bn. The property portfolio, which is concentrated in the Stockholm region, has an annualised rental value of SEK 2.2bn and a lettable area of 1.0 million sqm. Fabege’s shares are listed on Nasdaq Stockholm, Large Cap segment.