Fabege sells Uarda 7, Arenastaden
Fabege has signed an agreement to sell the Uarda 7 property, in Arenastaden, to Union Investment. The sale confirms once again the areas attractiveness for institutional investors. Fabege will continue to manage the property, retain the customer relationship and drive the development of Arenastaden.
The property is located at the centre of Arenastaden, with the address Evenemangsgatan 17 and Dalvägen 22. It comprises approximately 17.400 sqm of office space and is currently let to 95 percent. Major tenants are Svenska Spel, KPMG, Sodexo, Nordea and Handelsbanken. The property has a Breeam Very good certification.
The sales price amounts to SEK 1.184 m. The transaction will generate a gain of SEK 104m before tax and SEK 190m after tax, which will be recognised in the fourth quarter of 2016. The transfer of ownership will occur during the first quarter 2017.
“The property favourably matches the demand in the investor market, meaning that it is fully developed, fully let and has long-term tenant. The sale creates scope for additional value-generating investments. I am delighted with this transaction, which is completely in line with our long-term strategy and am also gratified to be entrusted to continue managing the property and to take care of the relationship with the customers, comments Klaus Hansen Vikström, Deputy CEO and Director of Business Development of Fabege.
Fabege AB (publ)
This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at CET 07:50 on 16 November 2016.
For further information, please contact:
Christian Hermelin, CEO, Fabege, Phone: +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, Phone: +46 8 555 148 29, +46 70 666 13 80
Klaus Hansen Vikström, Deputy CEO and 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 city district development. Fabege owns properties with a carrying amount of SEK 2.3bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 44.7bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq Stockholm, Large Cap segment.
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