Hemfosa Fastigheter acquires community service properties in western Sweden at a total value of MSEK 270
Hemfosa Fastigheter is to acquire five community service properties in western Sweden at an underlying property value of MSEK 270. The acquired properties comprise leasable area of some 23,000 sqm, used for such purposes as schools and other municipal and government operations. The acquisition will further strengthen Hemfosa’s position in community service properties with stable cash flows.
The acquisition comprises three properties in Vänersborg, as well as two properties in Mölnlycke with a leasable area totaling about 23,000 sqm. The largest tenant is Fridaskolorna AB, which has been operating pre-schools and schools for 20 years. Other tenants include Vänersborg Municipality and the Swedish Prison and Probation Service. The leasing rate of the acquired property portfolio is approximately 94 percent and the average term of the lease is about 11 years as of year-end 2014.
The sellers are Niklasberg AB and AB Kullbäckstorp. Possession will be taken on December 1, 2014.
“This is another transaction to strengthen our position in the prioritized community service property segment, which is completely in line with Hemfosa’s strategy of developing a property portfolio with stable and strong cash flows. With the acquisition of the properties in Vänersborg and Mölnlycke, we will increase the proportion of properties with school operations, which will contribute to optimizing the mixture of tenants within the community service property segment,” says Jens Engwall, CEO of Hemfosa Fastigheter.
For further information, please contact:
Jens Engwall, CEO, jens.engwall@hemfosa.se, mobile phone +46 70-690 6550, switchboard +46 8-448 04 80
About Hemfosa Fastigheter
Hemfosa is a Swedish real estate company with a well-balanced and geographically diversified property portfolio focusing on community service properties with state and municipalities as the largest tenants. This provides stable cash flows and a healthy yield. In conjunction with value creation, Hemfosa also aims to actively participate in the transaction market. At September 30, 2014, Hemfosa owned commercial properties in Sweden with a total property value of approximately SEK 20.5 billion, including the company’s share of the property value of joint ventures. The company’s share has been listed on Nasdaq Stockholm Mid Cap since March 21, 2014. Read more at www.hemfosa.se.
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