Balder Acquires a Hotel Portfolio for SEK 2,2 billion
Balder (publ) has agreed to acquire a hotel portfolio of 14 hotel properties from Pandox. The purchase price amounts to SEK 2,2 billion and covers 127,000 sq m and 2,400 hotel rooms. Over 40 % of the assigned property value is situated in the Stockholm region and the remaining values are situated in cities as Gävle, Karlstad and Lund where Balder already have local representation.
Scandic is the single largest tenant, representing 65 % of the earnings, Nordic Choice represents 20 % and Winn Hotel Group 12 %. The leases have a remaining average term of approximately 7 years. The properties will be taken into possession in the second quarter of 2014.
"We are delighted to make this acquisition with Pandox. I would also like to thank Christian Ringnes and Olaf Gauslå for a professional, easy and pleasant approach to complete this transaction," said CEO Erik Selin
Pangea has facilitated the deal between the parties.
For further information, please contact
CEO Erik Selin, phone 0706-07 47 90 or
Head of Finance Marcus Hansson, phone 0768-36 98 48
Fastighets AB Balder (publ) discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on 16 April, 2014 at 08.15 CEST.
Fastighets AB Balder (publ)
Box 53121, 400 15 Gothenburg
Phone 031-10 95 70
Org nr 556525-6905, Gothenburg
Fastighets AB Balder is a listed real estate company which shall meet the needs of different customer groups for premises and housing through local support. Balder's real estate portfolio had a value of SEK 27.5 billion as of 31 December 2013. The Balder share is listed on Nasdaq OMX Stockholm, Mid Cap.