Balder to acquire three-property package from Fabege
Fabege has divested the following properties: Skeppshandeln 1 in Hammarby Sjöstad, Murmästaren 7 on Kungsholmen and Fiskaren Större 3 on Södermalm. The buyer is Fastighets AB Balder. The divestment will take the form of the sale of companies at an underlying property value of SEK 815m.
The Skeppshandeln 1 project property is essentially fully let and is being sold while under construction, which Fabege will complete. Skeppshandeln 1 comprises approximately 13,700 sqm of lettable area divided among a hotel, retail and office space, as well as a garage. The project is scheduled for completion and occupancy during the second quarter of 2014.
Murmästaren 7 is located on Kungsholmen. The property encompasses about 3,000 sqm of office and retail space.
Fiskaren Större 3 is located on Södermalm and encompasses about 2,600 sqm, with residential units accounting for slightly more than half. The remaining space is divided among office and retail space.
The sale will generate a gain of SEK 15m before tax and SEK 54m after tax, which will be recognised during the second quarter of 2013.
“The properties have a considerable focus on hotels, stores and housing units, which fall outside Fabege’s core business. The transaction enables Fabege to further concentrate its property portfolio in line with its strategy of owning and developing office properties in well-defined portfolios. The divestment is a natural progression in Fabege’s continued focus. We are pleased that the buyer is a professional and knowledgeable property owner that will diligently attend to the needs of ‘our’ tenants,” comments Klaus Hansen Vikström, Director of Business Development at Fabege.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
Klaus Hansen Vikström, Director of Business Development, phone 46 (0)8-555 148 74, 46 (0)70-239 34 81
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 2:00 pm CET on 17 May 2013.
Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. The carrying amount of the company’s property portfolio is approximately SEK 32.1bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
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