Kungsleden divests properties in Malmö and Västerås, raising SEK 605 m

Listed Swedish property company Kungsleden AB (publ) is selling four properties in Malmö, and one in Västerås, west of Stockholm, to NLI Eiendomsinvest AS. The sales price is SEK 605 m, SEK 85 m above book value and SEK 230 m above acquisition value. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007. The property yield calculated on sales price is just under 7%. The properties have total lettable floor-space of 97,600 sq.m., the majority being industrial/warehousing premises, and a minority, offices. This property portfolio has a rental value of just over SEK 55 m.

Possession changes hands on 1 June 2007.