Kungsleden sells two properties for approx. SEK 75 m


Listed Swedish property company Kungsleden AB (publ) is selling two properties for a total purchase price of SEK 75 m excluding transaction costs at a property yield of 6.5%. The sales price exceeds book value and acquisition cost by approximately SEK 4 m. This amount will be included in Kungsleden’s profit for calculating dividends for 2012.

The properties are located in Linköping, south west of Stockholm, and leasable area amounts to approximately 7,100 sq.m. divided 50% retail, 41% care and 9% office and other accommodation. These properties are fully let to various tenants, the largest being northern European food provider ICA Sverige AB and Östergötland County Council.

Completion was on 16 February 2012.

“I feel satisfied with this transaction, which yielded a good profit. With the sale earlier in the week, these transactions demonstrate that the transaction market remains liquid with strong local players.” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, CEO Kungsleden | phone +46 (0)8 503 052 04 | mobile +46 (0)70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone +46 (0)8 503 052 06 | mobile +46 (0)70 690 65 65

www.kungsleden.se

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden  

Kungsleden AB (publ) 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 17 February 2012 at 8:00 a.m.

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 December 2011, the property portfolio comprised 636 properties with a book value of SEK 26.1 bn. The portfolio was located in a total of 143 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.

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About Us

Kungsleden’s business concept is to own, manage and improve commercial properties in growth regions in Sweden and to deliver attractive total returns. Kungsleden’s strategies to create value are based on meeting the premises requirements of customers by managing, improving and developing properties and planning consents and by optimising the company’s property portfolio. Kungsleden has been quoted on NASDAQ OMX Stockholm since 1999.

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I feel satisfied with this transaction, which yielded a good profit. With the sale earlier in the week, these transactions demonstrate that the transaction market remains liquid with strong local players
CEO Thomas Erséus