Victoria Park discontinues lifestyle property segment
Victoria Park has signed an agreement to divest the lifestyle property segment. The buyer is a company operated by the event manager Bengt Mårtensson and the registered estate agent Angela Kingberg. The transaction, which will take place in company form, has no impact on earnings or liquidity. Existing staff are employed in the divested company and will therefore be transferred to the purchaser’s group. The operations will change hands on 1 March.
The business comprises service operations, including a spa facility and a multitude of services adjacent to the lifestyle property. In 2017, Victoria Park completed and divested the final stage of the 325 tenant-owner apartments linked to the service concept.
“Bengt Mårtensson and Angela Kingberg are two local personalities who together have solid knowledge of the service and event sector and of issues related to tenant-owner apartments. The new owners will offer better conditions to run and further develop the service operations in question. Victoria Park will now focus fully on managing and developing our property portfolio, consisting of more than 13,000 rental units,” says Peter Strand, CEO of Victoria Park.
This constitutes information that Victoria Park AB (publ) is legally obliged to publish according to the EU Market Abuse Regulation. The information was issued for publication by Peter Strand on 9 February 2018 at 2:00 p.m.
Victoria Park AB (publ) is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth districts in Sweden.
Victoria Park's property portfolio amounts to 1,062,000 square metres, comprising more than 13,000 flats, with a market value of SEK 14.6 Bn. The shares in Victoria Park are listed for trading on Nasdaq Stockholm Mid Cap.
Victoria Park AB (publ) Box 2, SE-201 20 Malmö, Sweden Tel +46 (0)40 16 74 40, Corporate Reg No 556695-0738, Head Office Malmö, www.victoriapark.se