Skanska sells office projerty in Stockholm to Deka Immobilien

Skanska sells its ongoing office project Bylingen in Stockholm. The sales price is SEK 576 M. The buyer is Deka Immobilien GmbH on behalf of its property fund WestInvest ImmoValue and the transfer is scheduled for March 2010.

The property is fully leased and comprises about 14,500 square meters of office space and studios for the media group MTG, Modern Times Group and two restaurants. The building is classed as an EU GreenBuilding which means that energy consumption is at least 25 percent lower than the Swedish standards. “This transaction demonstrates that modern and energy-efficient office buildings are attractive among tenants and investors. We are very proud of having created one Sweden’s best media houses, in a central location in Stockholm,” says Jan Odelstam, President of Skanska Commercial Development Nordic. Skanska and Deka Immobilien have concluded several deals together before. For example, Deka has acquired CityCronan in Stockholm and Atrium City in Warsaw from Skanska. Pursuant to Skanska’s communications policy, capital gains on commercial development projects are not disclosed during the construction phase. This project is expected to be completed during the first quarter of 2010. Skanska Commercial Development Nordic initiates and develops property projects within office, logistics and commercial buildings. Office operations are concentrated in the three metropolitan areas in Sweden, the Copenhagen area in Denmark, Helsinki in Finland and Oslo, Norway. Development of logistics and volume commercial properties is conducted in strategic areas in Sweden, Denmark, Finland and Norway. For further information, please contact: Jan Odelstam, President, Skanska Commercial Development Nordic, Tel: +46 (0)10-448 15 25. Peter Gimbe, Press Officer, Skanska AB, Tel: +46 (0)10-448 88 38. Direct line for media: +46 (0) 10 448 88 99.