Fabege divests property in Ulvsunda

Fabege has divested the Masugnen 7 property in Ulvsunda, Stockholm. The buyer is JM. The divestment will be made in companies with an underlying property value of SEK 200m. Masugnen 7 currently comprises 11,000 sqm of commercial floor space. The property will be transferred to JM on 1 July 2013 and the buyer intends to construct housing on the property. The divestment will generate a profit after tax of SEK 93m, which will be recognized in the first quarter of 2013.

“Our core business comprises commercial properties in attractive areas. The divestment of the Masugnen 7 property is a good example of a property that is geographically outside our priority areas and can be converted for housing.” says 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

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 31.6bn. 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.

Tags: