Citycon has agreed to sell the retail property Floda, located near Gothenburg, for approximately SEK 84.2 million (approx. 9.4 million) to Floda Torg Fastighets AB.
The gross leasable area of the Floda property is approximately 11,200 m². The closing of the transaction is estimated to take place in March 2012. Citycon was advised by Catella.
Citycon will recognize a gain on sale of approximately 2.5 million on the transaction.
In December Citycon also announced two other property disposals in Sweden. The divestments are part of Citycon's strategy to recycle and focus capital more strongly on the company's core businesses.
Source: CITYCON OYJ