Diligentia strengthens its position in Kista, Stockholm
Diligentia strengthens its position in Kista, Stockholm Diligentia has purchased an office property in Kista from NCC. The purchase- sum amounts to SEK 83.5 M. The purchased property Holar 3 has a total lettable area of 8,280 square meters of which 2,000 square meters consists of garage. The property is located near another Diligentia-property in Kista, Miklaholt 2. The new property has two tenants whose leases expires in the year 2001 and 2003. The property gives Diligentia a yield of 7.5 percent. In connection with the transaction in Kista, NCC bought the land area Backeböl 1:814 located in Nacka for SEK 2 M from Diligentia. Through the transaction, Diligentia strengthens the prioritised market Kista and decreases the property portfolio in a non-prioritised market, Nacka. "The purchase complements our portfolio in Kista in a very good way. It gives us a stronger market position and scale advantages in the property management area, says Björn Tigler, Managing Director of Diligentia Stockholm AB." Diligentia is one of Sweden's largest real estate companies. The book value of the Group's Swedish property portfolio amounted to SEK 10,345 million on June 30, 1999. The book value of the international properties amounted to SEK 861 million. Diligentia's overall strategy is to concentrate its operations on select market sectors in Stockholm, Gothenburg and the Öresund region. Diligentia is quoted on the A-list of the Stockholm Stock Exchange. Stockholm, October 18, 1999 For further information, please contact: Göran O. Westerberg, Head of Group Communications and Investor Relations telephone: +46-8-5875 8120 or +46-70-426 8120, e-mail:goran.westerberg@diligentia.se Internet address:www.diligentia.se, e-mail: diligentia@diligentia.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/18/19991018BIT00350/bit0001.doc http://www.bit.se/bitonline/1999/10/18/19991018BIT00350/bit0002.pdf