Wallenstam carries out structural transaction with Castellum
An agreement was signed today between Wallenstam and Castellum on a structural transaction involving commercial properties in Gothenburg and Mölnlycke. One of the properties that Wallenstam is acquiring is located adjacent to the company’s ongoing urban development project in Kallebäck, Gothenburg. The other property is located in Mölnlycke center, in the area that will be developed in connection with the new train line between Gothenburg and Stockholm.
“It is really nice to be able to carry out this transaction with Castellum. One of the properties we are acquiring is located right next to our urban development project “Kallebäcks Terrasser”, where we will build about 2,000 apartments in total. The property we are now buying mainly consists of warehouse and office space and is essentially fully let,” says Hans Wallenstam, CEO.
Wallenstam is buying the properties Göteborg Kallebäck 3:4 and Härryda Hönekulla 1:571, with a total lettable area of about 35,100 sq m, for an agreed property value of just over SEK 350 million. The properties that Wallenstam is selling are Göteborg Krokslätt 20:6 and part of Göteborg Krokslätt 154:6 (the future property Göteborg Krokslätt 154:8) with pertaining commercial building rights and a total lettable area of slightly more than 9,300 sq m, for an agreed property value of just over SEK 290 million, which is almost 30 percent above valuation. All properties will be bought and sold through company transactions and will be taken into possession on December 15, 2017.
The part of the property Göteborg Krokslätt 154:6 that is not included in the transaction is currently a project property where Wallenstam is planning to build about 200 apartments with some commercial space on the ground floor.
For further information:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB (publ) tel. 46 31 20 00 00 or 46 705 17 11 34
Elisabeth Vansvik, Communications Director Wallenstam AB (publ) tel. 46 31 20 00 00 or 46 705 17 11 38
Wallenstam is a developing property company that manages, builds and develops properties for sustainable living and enterprise in Gothenburg and Stockholm. The property holding is valued at around SEK 37 billion and the customer base consists of around 7,500 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through the company Svensk NaturEnergi. The company’s B shares have been listed on Nasdaq Stockholm since 1984.
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