Castellum in negotiations for sale of €216 mln property portfolio in Sweden (SE)

Castellum AB (publ) has, through the wholly owned subsidiary Fastighets AB Corallen, an ongoing sales process of all the company’s 53 properties in Värnamo and Växjö. The process, if completed, also includes a property in Gothenburg owned by the wholly owned subsidiary Eklandia Fastighets AB.
The buyer, if the transaction is completed, is Hemfosa Fastigheter.
Hemfosa Fastigheter is now carrying out a technical, legal and financial due diligence of the property portfolio which consists of approx. 280 000 m² in total. The transaction includes properties with a value of approx. SEK2 billion (€216 mln).
Signing of the transaction is scheduled to later in November.
“We are continuously seeking for growth potential in our property portfolio. The transaction, if completed, means a refinement of the portfolio and gives Castellum continued conditions to deliver growth in the long term in line with our high objective”, says Castellum’s CEO Henrik Saxborn. “The transaction gives Castellum increased opportunities for new investments.”
“Castellum will continue to develop from the same starting point as before – with cash flow-focus, customer focus through local organizations and by working with both low financial as well as operational risk”, Saxborn adds.
Source: Castellum