Kungsleden makes strategic add-on acquisition in existing Stockholm cluster

Kungsleden continues to expand its office portfolio and strengthens its presence in the existing Stockholm City West cluster at Kungsholmen through the acquisition of the properties Gladan 5, Gladan 6 and Gladan 7.

The properties are acquired at a price of MSEK 485 after deduction of deferred tax and access will take place in February 2018.

The office's leaseable area amounts to approximately 11,200 sq.m. which means that Kungsleden expands its cluster at Kungsholmen to a total leaseable area of ​​approximately 46,400 sq.m.

"The acquisition gives us the opportunity to further develop Stockholm City West into a modern office cluster with an attractive environment for our customers. The properties have great development potential and our goal is to both develop the existing properties and create new modern premises in the area," says Ylva Sarby Westman, Deputy CEO and CIO Kungsleden.

For more information, please contact:

Henrik Gerdin, Head of Transactions | + 46-8-50305226 | henrik.gerdin@kungsleden.se

Ylva Sarby Westman, Deputy CEO and Chief Investment Officer | +46-8-503 052 27 | ylva.sarby.westman@kungsleden.se

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

The information was provided for public release on 22 December, 2017 at 7:30 p.m.

Kungsleden is a long term property-owner that provides attractive, functional premises that enrich people’s working days. We create value by owning, managing and developing offices and other commercial properties in Stockholm and Sweden’s other growth regions. A large portion of our properties belong to attractively located clusters where we also engage in the development of the whole area. Kungsleden’s goal is to deliver an attractive total return on our properties and for our shareholders. Kungsleden is listed on NASDAQ Nordic Large Cap.

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About Us

Kungsleden is a property company operating in Sweden and listed on Nasdaq Stockholm. We focus on owning, actively managing, improving and developing commercial properties long-term in the office, industry/warehouse and retail segments, in chosen growth regions such as Greater Stockholm, Greater Gothenburg, the Mälar Valley and southwestern Sweden. We offer appealing and functional premises in the right locations at the right price. Clustering our properties, ensuring a good local knowledge and being close to our customers allows us to quickly offer new solutions when our customers’ needs change.

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Quotes

The acquisition gives us the opportunity to further develop Stockholm City West into a modern office cluster with an attractive environment for our customers. The properties have great development potential and our goal is to both develop the existing properties and create new modern premises in the area
Ylva Sarby Westman, Deputy CEO and Chief Investment Officer