Kungsleden acquires care properties

Through Hemsö, its 50 percent joint venture with AP3 (the Swedish Third Pension Insurance Fund), listed Swedish property company Kungsleden AB (publ) is acquiring 29 care properties for a total purchase price of SEK 368 m including transaction costs. The property yield is 7.8%.

These properties are located in western Sweden and owned by the county council of Västra Götaland (VGR) and have gross leasable area of 55,000 sq.m. Most of the properties are let by VGR and total rental value is SEK 50.2 m.

Completion on the properties is scheduled for 1 February 2011.

“I’m pleased that VGR has entrusted us again through Hemsö to acquire and manage care properties. This property portfolio provides us with good and stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone +46 8 503 052 04 | mobile +46 70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone +46 8 503 052 06 | mobile +46 70 690 65 65

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se 

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 September 2010, the property portfolio comprised 559 properties with a book value of SEK 21.8 bn. The holding was located in a total of 130 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.

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