Continued high transaction activity

During October, Corem Property Group AB (publ) (”Corem”) communicated that four separate letters of intent had been signed, concerning divestments of properties at a total underlying property value of approximately SEK 12 billion.

Two of the letters of intent have resulted in signed agreements and transactions being carried out. These refer to the divestment of two office properties in Copenhagen at an underlying property value of SEK 3.9 billion, and the divestment of 24 logistics properties at an underlying property value of SEK 1.2 billion. Transfer of possession were made on 29 and 30 November respectively. The remaining two letters of intent which were communicated have not resulted in agreed divestments but instead been terminated. The proactive work with transactions is still ongoing, with the aim of strengthening the balance sheet and freeing up capital for bond maturities during 2024.

"In today's transaction market, it is natural that not all transactions result in signed transactions. We have replaced these canceled deals with a number of new and ongoing transaction discussions currently ongoing and will, through selective divestments, strengthen our balance sheet in order to free up funds for redemption of bond maturities. We feel that there is a well-functioning transaction market. So far this year, we have now completed 24 deals, with a wide range of buyers and property types", said Rutger Arnhult, CEO at Corem.

Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Rutger Arnhult, CEO, +46 70 458 24 70, rutger.arnhult@corem.se
Eva Landén, Deputy CEO, +46 10 482 76 50, eva.landen@corem.se

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se

This information is information that Corem Property Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact persons above on 11 December 2023 at 08:00 CET.

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.

Corem Property Group is a real estate company that in a sustainable way owns, manages and develops commercial properties in urban and growth areas. Corem Property Group is listed on Nasdaq Stockholm, Large Cap.