Citycon has signed an agreement to purchase the entire stock of BHM Centrumfastigheter AB, which owns 100% of the Jakobsbergs shopping center in the municipality of Järfälla, Greater Stockholm Area, Sweden.
The total debt-free purchase price is approximately €104.5 million (approx. SEK 970 million) subject to closing adjustments, and the initial net yield of the investment is 6.0%. The deal is subject to customary closing conditions such as municipal approvals and is expected to close at around the end of August. This acquisition will strengthen Citycon's market position in the shopping center sector in Sweden.