Castellum invests SEK 287 mln. and sells SEK 74 mln. (SE)

In the Fullriggaren block in the area of Västra Hamnen in Malmö, Castellum has, through the wholly-owned subsidiary Fastighets AB Briggen, started construction on approx. 6,000 m² of office premises.

In Västra Hamnen, there is ongoing development of the area from industrial land to offices and residential properties. Briggen's investment is calculated at SEK 149 million (approx. €16.6 million). The project is due to be completed during spring 2012. Currently there are no signed contracts in the property.

Furthermore, Briggen has made its first investment on the Danish side of the Öresund region through the acquisition of a property in Albertslund, located in western Greater Copenhagen. The property consists of 8,500 m² of office and warehouse premises. The investment amounted to SEK 52 million (approx. €5.8 million). The property is currently let on a short contract.

In Frihamnen, Stockholm, Fastighets AB Brostaden has sold an office property of 3,750 m² with an underlying property value equivalent to SEK 74 million, which exceeded the latest valuation at the year-end of SEK 22 million. Change of possession has taken place.

At Lindholmen, on Hisingen in Gothenburg, Eklandia Fastighets AB has acquired land with the possibility for new construction of office premises. The land is located adjacent to one of Eklandia's existing properties. The investment amounted to SEK 36 million.

Elsewhere Eklandia has started an extension and the reconstruction of office premises for an existing customer in Kallebäck, Gothenburg. The investment is calculated at SEK 27 million and is due to be completed during the fourth quarter of 2011.

In Varla, Kungsbacka, Harry Sjögren AB has started the reconstruction of an existing property for a customer. The investment is calculated at SEK 23 million and is due to be completed during summer 2011.

Source: Hugin

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