Hemfosa Fastigheter takes first step into Norway – acquires six community service properties in Oslo at a total value of SEK 1.5 billion
In the opinion of Hemfosa Fastigheter, Norway offers interesting business opportunities in the segment of community service properties – the strategically most important category of properties in Hemfosa’s portfolio. The company is now taking the first step into the Norwegian market through the acquisition of six community service properties in the Oslo region for a price corresponding to SEK 1.5 billion.
The acquired properties are located in the municipalities of Skedsmo, Moss and Fredrikstad in the eastern Oslo region and have an underlying property value of SEK 1,475 million. The leasable area totals approximately 63,000 sqm. The tenants comprise to 100-percent state-owned operations, with colleges, judicial institutions and the police authority as the largest tenants. All properties are fully leased and the average remaining lease term, calculated from year-end 2014, is 9.7 years. The seller is Entra ASA, with the State of Norway as the largest owner.
“Our assessment is that Hemfosa has excellent potential to expand its business to Norway within the framework of the current strategy. The acquisition from Entra is a very good platform for further growth. During 2015, we intend to assess the possibility of additional acquisitions in Norway with which to supplement our portfolio of community service properties,” comments Hemfosa’s CEO, Jens Engwall.
Possession will be taken on February 27, 2015 at the latest, with January 1, 2015 as the financial date of taking possession.
The agreement is conditional upon financing.
For further information, please contact:
Jens Engwall, CEO, email@example.com, mobile phone +46 70-690 6550,
office +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 the 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.