Kungsleden acquires two public properties
Listed Swedish property company Kungsleden AB (publ) has entered an agreement with construction and civil engineering corporation Peab AB (publ) to acquire two public properties for a total purchase price of SEK 134 m. These properties, currently under construction, are located in the Municipalities of Uppsala and Sigtuna, near Stockholm. The total rental value is SEK 10.7 m.
The properties consist of retirement homes and pre-school premises, and their tenants are the Municipalities of Uppsala and Sigtuna on 20-year contracts. Total lettable floor-space is 7,282 sq.m.
Kungsleden is scheduled to take possession in July 2009.
“It really feels positive to have another two public properties,” commented Thomas Erséus, Kungsleden’s Chief Executive, “and we’re delighted to be entrusted more, which advances our positioning. Their long rental agreements with municipalities will provide us with high and stable returns for many years ahead.”
Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 2 October 2008 at 09:00 a.m.