Drott sells for MSEK 655 in Gothenburg - makes profit of MSEK 150
Drott sells for MSEK 655 in Gothenburg - makes profit of MSEK 150 Drott has sold its residential properties in the Södra and Norra Biskopsgården area of Gothenburg, including a total of 2,117 apartments. The structures were built at the end of the 1950s and contain some 154,000 square metres of rentable space. The transaction will be executed during the month of December. The buyer is one of NewSec's real estate funds ("NIAM I") under the direction of NIAM - a Swedish asset management company that manages Swedish properties with a combined value of approx. 4 SEK billion. The purchase price of MSEK 655 corresponds to a direct yield of 7.5 per cent and gives Drott a profit of around MSEK 150 on the sale. Sold properties Rentable - of which space residential Biskopsgården sq.m. sq.m. 20:1-3 Höstvädersgatan 59-71 20,768 20,548 21:5, 13-15 Sommarvädersgatan 18-72 15,501 15,110 21:7-9 Sommarvädersgatan 2-14 16,046 15,590 24:2-4 Blidvädersgatan 2-12, 22-56 22,334 21,868 30:3-6 Höstvädersgatan 3-57 16,240 15,098 37:3-5 Värmegatan 1-24 m fl 32,545 29,096 38:2-5, 39:2-3 Blåsvädersgatan 14-24 15,530 15,336 51:16 Friskväderstorget 2-8 15,188 11,430 154,151 144,075 Drott AB (publ) For additional information: Mats Mared, President, telephone +46 8 545 83 010 Drott is one of the largest listed real estate companies in Europe. Its business mission is acquire, develop and manage commercial and residential properties in Swedish growth markets. On 30 September 2000, Drott owned 720 properties with a combined 4.3 million sq.m. of rentable space and annual rents of SEK 3.9 billion (incl. vacant rent). Around 90% of the real estate value is concentrated in Stockholm, Gothenburg and the Öresund region. Drott has more than 400 employees and 47,000 shareholders. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/27/20001127BIT01150/bit0001.doc http://www.bit.se/bitonline/2000/11/27/20001127BIT01150/bit0002.pdf