Kungsleden sells a property for SEK 158 m

Press Release 10 November 2010

Listed Swedish property company Kungsleden AB (publ) is divesting an office property in Kristianstad, southern Sweden, for SEK 158 m. The sales price is consistent with book value and acquisition cost.

Gross leasable area is approximately 14,000 sq.m.

The acquirer, Gammab AB, is a subsidiary of family owned property firm Byggnads AB Bröderna Persson. Completion is planned for 1 December 2010.

“We’re continuing our work on portfolio enhancement,” commented Kungsleden’s Chief Executive Thomas Erséus, “we’re seeing a change in our tenant mix, which is why we’re selling this property.”

Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 10 November 2010 at 9:00 a.m.

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.

Tags: