Catena sells property in Brøndby, Denmark
Catena has sold its Kornmarksvej 1 property in Brøndby, Denmark, to KKR and Palm Capital through a corporate transaction with an underlying property value of DKK 400 million.
12 July 2024 2.00 p.m. CET
The property has a land area of 98,500 m² and a facility that includes both logistics and office components, with a total lettable area of 47,121 m². The facility, which was built in 1972, came into Catena’s possession in connection with its acquisition of the property company Tribona in 2015. The property is currently rented by the grocery company Nemlig, and has 8,000 m² of vacant space, most of which is designated for offices.
The agreed property value is in line with its book value.
“Catena’s aim is to continue to grow in both Sweden and Denmark, while steadily increasing the proportion of modern properties with a distinct logistics profile in our portfolio. The sale of this property is entirely in line with our long-term strategy,” explains Catena’s Regional Manager for Denmark, Mikael Tröjbom Johansen.
The property was transferred on 12 July 2024.
For further information, please contact:
Jörgen Eriksson, CEO, Tel. +46 (0)730 70 22 42, jorgen.eriksson@catena.se
Mikael Tröjbom Johansen, Regional Manager Denmark, Tel. +45 52 81 65 05 mikael.johansen@catena.se
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Catena is a listed property company that sustainably develops and durably manages efficient logistics facilities through collaboration. Its strategically located properties supply the Scandinavian metropolitan areas and are adapted for both current and future flows of goods.The overarching objective is to generate a strong cash flow from operating activities to enable sustainable growth and stable returns. As of 30 June 2024, the properties had a total value of SEK 35,865 million. Catena shares are traded on NASDAQ Stockholm, Large Cap.
