Skanska Commercial Property Development divests Epic in Malmö, Sweden, for SEK 750M to internal property portfolio
Skanska Commercial Property Development has divested the office building Epic in Malmö, Sweden, to Skanska Investment Properties for about SEK 750M. The internal transaction has no effect on the cash flow and will be recorded in the first quarter 2022. The transfer will take place immediately.
The office property Epic consists of two buildings with a total leasable area of approximately 12,000 square meters. The property, which is developed and built by Skanska, was completed in 2020 and is fully let. Among the tenants are Verisure, Spaces, Baker Tilly, Delphi, Web Manuals, Sproud and LoCali.
The transaction is conducted at market value and is the first with Skanska Investment Properties as counterparty. The new business stream aims to establish a long-term portfolio of high-quality, climate-smart and healthy office buildings in Stockholm, Gothenburg and Malmö. Epic will thus be the first addition to the portfolio, which will be built up over time.
Epic is LEED-certified, level Platinum, and WELL-certified, level Gold. LEED is a global third-party certification for environmentally friendly design, construction, operation and maintenance. WELL is based on medical and scientific research on healthy workplaces and how people are affected by the built environment.
During construction, circular solutions were applied. For the atrium, 16 tonnes of concrete from the Copenhagen metro were used and 17 tonnes of leftover bricks from Epic's own façade in the floor. In addition, 35,000 meters of window frames and beams from demolition projects in the wood panel and 77,000 recycled PET bottles for sound-absorbing canvas in the façade.
Epic is one of seven office properties that Skanska Öresund has developed in a cluster in central Malmö, were two additional office projects are under way.
For further information please contact:
Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94
Direct line for media, tel +46 (0)10 448 88 99
This and previous releases can also be found at www.skanska.com.
Skanska Group uses knowledge & foresight to shape the way people live, work, and connect. Over 135 years in the making, we’re one of the world’s largest project development and construction companies, with 2021 revenue totaling SEK 148 billion. We operate across select markets in the Nordics, Europe and USA. Together with our customers and the collective expertise of our 30,000 teammates, we create innovative and sustainable solutions that support healthy living beyond our lifetime.
