Hemfosa Fastigheter to invest approximately MSEK 450in properties for Internationella Engelska Skolan
Hemfosa will acquire, develop and invest in three Internationella Engelska Skolan (IES) school properties in Sweden at a value of approximately MSEK 450 and, in parallel, will sign new long-term leases. The investment comprises two new IES schools in Huddinge and Södertälje as well as an expansion of operations in Sundsvall. This represents a further step in Hemfosa’s strategy to develop a close collaboration with established players in the community property sector.
One of the property acquisitions with be carried out within the framework of the option that formed part of the acquisition of school properties that Hemfosa announced and implemented in May this year. It concerns the Lunnaren 1 property in Huddinge, which will be extended and adapted for IES operations. Noshörningen 14, in Södertälje, will be subject to major remodeling and expansion work. In Sundsvall, Hemfosa’s existing property Västhagen 1, where IES is currently a tenant, will be supplemented in the form of the construction of a new separate school building with an area of 5,400 sqm.
The total rental value amounts to approximately MSEK 33. Internationella Engelska Skolan preliminarily intends to commence operations in the properties during the autumn terms of the 2017 and 2018 school years.
“IES is already a tenant of Hemfosa in several locations and we are pleased that we can now expand our cooperation as IES’s operations grow. IES is one of many established, long-term players that Hemfosa cooperates with to build modern and efficient community service properties,” says Stina Lindh Hök, Head of Transactions at Hemfosa.
For further information, please contact:
Stina Lindh Hök, Head of Transactions, stina.lindh.hok@hemfosa.se, mobile +46 70 577 18 85, office +46 8 448 04 80
About Hemfosa Fastigheter
Hemfosa is a Swedish property company focusing on community service properties in the Nordic region with its largest tenants being the Swedish state and municipalities. This provides stable cash flows and a healthy yield. In order to create value, Hemfosa also aims to actively participate in the transaction market. As per September 30, 2016, Hemfosa owned properties with a total property value of approximately SEK 36.7 billion, including the company’s share of the property value in joint ventures. Hemfosa’s common share has been listed since March 2014 and Hemfosa’s preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se.
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