Näckebro sells property

Näckebro sells property for SEK 211 M and buys from Realia and Columna respectively for SEK 195 M Näckebro sells all its properties in Sundsvall to Realia and in exchange acquires the site-leasehold right to Varuhissen 1 in Stockholm. Näckebro sells a further two properties in Stockholm and Borås respectively. Barter transaction with Realia Fastighets AB and Columna Fastigheter AB Näckebro is selling all its Sundsvall properties for a total of SEK 180 M. This sum includes the residential properties in the subsidiary Pewa, totalling about 21,500 sq m, and the site-leasehold right to Lagret 4 which comprises some 8,500 sq m of office and storage space. Realia is providing part payment in the form of a new issue of B shares valued at SEK 50 M. Näckebro is acquiring from Realia the site-leasehold right to Varuhissen 1 in Stockholm for SEK 178 M. The property totals some 15,000 sq m and is mostly office accommodation. The address is Upplagsvägen 1-5 in Årsta. The sale of the Sundsvall properties to Realia will result in a capital loss to Näckebro of SEK 36 M. Näckebro is selling the entire new issue of Realia shares to Columna and will receive in part payment 105,000 A shares in Fabege AB valued at SEK 8.8 M, as well as the office property Sjökatten 14 in Stockholm which is valued at SEK 17.7 M. The property comprises approx. 1,300 sq m and is situated in Kungstensgatan 35. Other sales Näckebro is selling the property Palamedes 1 in Gamla Stan, Stockholm, to Kastellholmen Fastighetsutveckling AB for SEK 21 M. The property is currently unoccupied in principle, and will be completely renovated. Näckebro is selling the property Pomona 7 in Borås to Wäst-Bygg AB for SEK 10.5 M. The property comprises some 1,500 sq m and consists mainly of retail outlets. The sales of Palamedes and Pomona will generate a capital gain of SEK 10 M. All in all, in 1997 Näckebro disposed of non-strategic properties in Sweden and other countries for SEK 960 M. The sales will result in a loss of SEK 16 M. For further information, please contact: Lennart Schönning, Chief Executive, Näckebro, tel.: +46-(0)8-412 19 01, mobile: 070-645 02 50 Näckebro is an innovative property company characterised by an active property development programme, a modern organisational philosophy and an open information policy. Näckebro's stock is all high-grade and presently concentrated to office and residential properties in Stockholm, Malmö, Gothenburg and London. With the acquisition of Fabege, the property portfolio comprises about 1.4 million sq m of space at a book value of approx. SEK 13,000 M. Näckebro is listed on Stockholm Stock Exchange's O list.