Castellum and Heimstaden complete a deal of a €257.5 mln portfolio (SE)

Castellum AB and Heimstaden AB have completed a deal involving property values worth SEK2.4 bln (€257.5 mln). In all, the transaction comprises 27 properties, totalling 186,668 m². in Norrköping, Linköping, Örebro and Solna. The transaction also marks the beginning of a joint venture in the urban development of Linköping and Norrköping.
Castellum has acquired four properties in Örebro and one property in Solna through its wholly owned subsidiaries Aspholmen Fastigheter AB and Fastighets AB Brostaden. Furthermore, through wholly owned subsidiary Fastighets AB Corallen, Castellum has acquired 50% of the shares in Henry Ståhl Fastigheter AB (HSAB) from Heimstaden, with an option to acquire the remaining 50% of the company earliest after 18 months. Heimstaden has a corresponding option to sell the remaining 50% after the end of Corallen’s time of option. Change of possession is estimated to take place in early June 2015. In addition, prior to the change of possession, Heimstaden will assume ownership of HSAB’s residential properties. This latter action will streamline HSAB into a real estate company with commercial premises.
“This deal means that Castellum, with the strategy of a long-term player, gets the opportunity to grow in a region with favourable future prospects. As a long-term player, Castellum wants to contribute to urban development. This is why collaboration with Heimstaden was established, with the aim of developing new city districts in both Norrköping and Linköping. I look forward to working together with Heimstaden.” says Henrik Saxborn, CEO of Castellum AB.
“Through the partnership with Castellum we create the absolutely best opportunities for continued development of commercial premises in Norrköping and Linköping. Heimstaden, continues to wholly own all residential properties included in Heimstaden’s purchase of HSAB in December 2014. We can combine this with continued regional growth in Heimstaden’s prioritized segment: centrally located residential properties,” says Patrik Hall, CEO of Heimstaden.
Source: Castellum

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