Nordisk Renting acquires office building from KPA

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Nordisk Renting acquires office building from KPA Nordisk Renting AB is acquiring the head office of pension company KPA AB in the Östermalm district of Stockholm for SEK 350 million. In connection with the purchase, the parties are signing a 15-year leasing agreement. The property, with a rentable area of approximately 7,500 square metres, is efficiently utilised with regard to office space, and is of an very high standard following total renovation in 1998-2000. The property in question is being acquired from KPA Livförsäkring AB (KPA Liv), the company within the KPA Group which deals with municipal group life insurance. In conjunction with the acquisition, Nordisk Renting is issuing a purchase option to KPA Liv's subsidiary company, KPA Pensionsförsäkring AB. This gives KPA Pensionsförsäkring AB the opportunity to acquire the attractive property in the future at a pre-determined price. "KPA's investment policy is to continuously review how policy-holders' money is invested," says Bertil Repfennig, Chief Executive of KPA. "This is to ensure the optimal investment at any given time based on the latest risk/return assessments. At present we judge alternative investments to be preferable. However, should the situation change we have made sure that we have the opportunity to in the future acquire the property on favourable terms." "With its long-term approach to business, the KPA Group is the kind of company we are very pleased to have as tenants," says Reinhold Geijer, Chief Executive of Nordisk Renting AB. "Moreover, the property is also very well suited to our portfolio mix both in terms of type and location." For further information, please contact: Reinhold Geijer, CEO, Nordisk Renting AB, tel +46 (0)8-670 98 00 Bertil Repfennig, CEO, KPA AB, tel +46 (0)8-665 04 00 Nordisk Renting is a specialist property company focusing on long-term, strategic partnerships with financially sound companies and public authorities. Nordisk Renting owns properties worth around SEK 16 billion in Sweden, Finland, Norway, Switzerland and England. Nordisk Renting is owned by Nordea (40%), 3i (35%) and the Sixth Swedish National Pension Fund (25%). ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: