Kungsleden acquires three properties for SEK 180 m

Press Release
20 February 2008

Listed Swedish property company Kungsleden AB (publ) is acquiring three commercial properties in Mölndal, near Gothenburg, south-western Sweden, from Nordic seasonings producer Santa Maria AB for a purchase price of SEK 180 m including transaction costs.

These properties have total lettable floor-space of approximately 23,900 sq.m., mainly consisting of offices, warehousing and industrial premises. Santa Maria AB is the tenant in all premises through five to six-year agreements. Total rental value is just over SEK 13.1 m, and the estimated property yield is about 7.4%.

Kungsleden will take possession immediately.

“With their high and stable returns, these properties fit well into Kungsleden’s existing property portfolio. We assess their risk level as low because the properties have attractive locations and are flexible for different usage,” commented Kungsleden’s Chief Executive Thomas Erséus.