Kungsleden in SEK 70 m divestment
Press Release 15 October 2009
Listed Swedish property company Kungsleden AB (publ) is selling a site leasehold in Stockholm held in its joint venture with AP3 (the Swedish Third Pension Insurance Fund) for a purchase price of SEK 70 m. The sales price corresponds to book value and exceeds acquisition cost by some SEK 23 m. Of this latter amount, just over SEK 11 m will be posted to Kungsleden’s profit for calculating dividends for 2009. The divested site leasehold is located on Södermalm in central Stockholm. There are 50 retirement home apartments operating in the property. There are also premises for home-help services, and three smaller retail units. The building has gross leasable area of 3,286 sq.m., of which 3,085 sq.m. is retirement homes. The rental value is approximately SEK 4.8 m. Transfer of possession is scheduled for 1 February 2010. 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 15 October 2009 at 9:00 a.m.