D. Carnegie & Co acquires three properties in Stockholm
D. Carnegie & Co AB (publ) – listed on Nasdaq First North Premier – has acquired three properties in the Greater Stockholm region by way of a company transaction. Two of the properties are located in Jordbro and the third in Vårberg. The properties are estimated to generate annual rental income of MSEK 85. Seller is PATRIZIA WohnInvest Kapitalverwaltungsgesellschaft mbH for the account of the German special fund PATRIZIA Euro City Residential Fund I.
The acquired portfolio consists of 1 009 apartments and a total lettable area of 93 000 sqm. The two properties in Jordbro are located adjacent to D. Carnegie & Co’s existing portfolio in the area.
- These are exactly the kind of properties that D. Carnegie & Co is interested in acquiring. Attractive locations, low current rent levels and with a strong potential for further development and thus improved NOI, says Ulf Nilsson, CEO of D. Carnegie & Co.
Closing is expected to occur in July 2015. The acquisition is subject to the vendor receiving required regulatory approvals.
For further information, please contact:
Ulf Nilsson, CEO, D. Carnegie & Co, +46 (0)8 – 121 317 25
About D. Carnegie & Co
D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the Bosystem renovation method. In addition to this, the company creates value through the development of building rights in existing portfolios.
The market value of the company’s properties amounted to MSEK 11,521 on 31 December 2014 and the total rental value is estimated at MSEK 1,161 annually. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co has been listed on NASDAQ Firth North Premier since 11 December 2014. The company’s Certified Adviser is G&W Fondkommission.
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