Hemfosa Fastigheter implements acquisition of properties from Castellum valued at SEK 2 billion
Hemfosa Fastigheter has finalized negotiations concerning the acquisition from Castellum of 54 properties in southern and western Sweden with an underlying property value of approximately SEK 2 billion. The property portfolio comprises a total of approximately 280,000 sqm of leasable area distributed among public properties, office properties and logistics properties. Possession will be taken before year-end 2014.
Hemfosa is to acquire, via the wholly owned Castellum subsidiaries Fastighets AB Corallen and Eklandia Fastighets AB, a total of 54 properties in Växjö, Värnamo and Gothenburg. The leasing rate of the acquired property portfolio is approximately 90 percent and the major tenants include a number of large companies, the University of Gothenburg and the Swedish Employment Service.
The acquisition also encompasses 15 employees in Corallen’s property management organization, who will transfer to the Hemfosa Group in connection with Hemfosa taking possession.
“The acquisition from Castellum provides excellent potential for Hemfosa’s continued growth. It is an attractive portfolio of well-located properties generating stable cash flows. At the same time, the mix of the property portfolio favorably matches Hemfosa’s strategy of implementing property transactions whereby we continuously see how we can optimize our property portfolio in the best possible manner,” says Jens Engwall, President of Hemfosa Fastigheter AB.
For further information, please contact:
Jens Engwall, President, email@example.com, mobile phone +46 70-690 6550, switchboard +46 8-448 04
About Hemfosa Fastigheter
Hemfosa is a Swedish real estate company with a well-balanced and geographically diversified property portfolio focusing on public 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.