Hemfosa Fastigheter acquires community service properties in Norway for an approximate property value of MSEK 420
Hemfosa is acquiring the Statens Park area in the Municipality of Tønsberg, south of Oslo, in a transaction that includes nine properties and a parking garage. With this acquisition, Hemfosa has built up a substantial property portfolio in Norway in 2015 and a strong position in the prioritized community service properties segment.
Hemfosa has signed an agreement to acquire a total of ten properties at an underlying property value of approximately MSEK 420 in the Municipality of Tønsberg, a densely populated and growing area south of Oslo. The sellers are Tore W. Solum Holding AS and Lisa M. Røgeberg Holding AS.
The properties comprise approximately 30,000 sqm of leasable area and a number of sites covering about 42,000 sqm of land, where one of the sites has detailed plans for a new building. The properties are fully leased with an average remaining lease length of about five years. Annual rental income amounts to approximately MSEK 32. The transaction will be financed with equity and bank loans. The transaction is subject to the approval of the bank by January 20, 2016. Possession will be taken on January 28, 2016.
“We are pleased to acquire another portfolio of attractive community service properties in Norway. In less than a year, Hemfosa has built up a significant property portfolio in our prioritized category: community service properties in prime locations with stable tenants and healthy cash flows,” says Jens Engwall, President of Hemfosa.
Statens Park, which was established in the 1990s but has continued to be developed in the 2000s, is an attractive area for community service operations. Tenants in the acquired properties include a number of authorities, such as the Norwegian Tax Administration, the Norwegian Labour and Welfare Administration, the Norwegian Public Roads Administration, the county administrative board and the district court. The proportion of tenants active in community services is 89 percent.
For further information, please contact:
Simon Venemyr Ottersland, COO Norway, simon.ottersland@hemfosa.se, mobile + 47 917 95 216
About Hemfosa Fastigheter
Hemfosa is a Swedish property company with a well-balanced and geographically diversified property portfolio focusing on a high proportion of community service properties with the State and municipalities as the largest tenants. This provides stable cash flows and a healthy yield. In order to create value, Hemfosa also aims to actively participate in the transaction market. At September 30, 2015, Hemfosa owned commercial properties in Sweden with a total property value of approximately SEK 30.8 billion, including the company’s share of the property value in joint ventures. The company’s common share has been listed since March 2014, and the preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se.
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