Citycon to divest 89 apartments in Jakobsbergs Centrum in Jarfalla (SE)

Citycon continues with the divestments of its residential portfolio in Sweden by selling two residential buildings, "The Towers", consisting of 89 apartments in the middle of shopping center Jakobsbergs Centrum for SEK 120 million (approximately €12 million).


The sold property (not pictured) has a total area of 8,237 m².

The apartments were sold to a newly founded owners association by an agreement where the owners association agreed to purchase 100% of the shares in Citycon's Swedish subsidiary Tenrot Fastighets AB. The sold property has a total area of 8,237 m². Closing of the transaction is expected to take place in March 2010.

The divestment represents about 25% of the total number of apartments in Jakobsbergs Centrum. Including this transaction, Citycon has during the last 12 months agreed to sell over 355 of its residential portfolio in Sweden for a total amount of SEK 477 million (approximately €47 million) in transactions that are expected to be closed and paid during March or April 2010.

Source: Hugin

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