Fabege sells property in Stockholm City (SE)

Fabege has sold its Elefanten Mindre 1 property on Drottninggatan in Stockholm City to AFA Sjukförsäkring. The occupancy date is 1 April 2009.

The 5,000 m² retail and office property has recently been renovated and is fully let. The sale will result in a profit after tax of SEK 4 mln. (approx. €340,000), which will be recognized in the first quarter of 2009.

"Elefanten Mindre 1 is a renovated and fully let property where the customers will continue to be cared for by a competent and long-term property company," Christian Hermelin, Fabege's CEO, comments.

"We are very satisfied with this acquisition, which increases our portfolio of well located properties in Stockholm's inner city," Tomas Ingemarsson, Property Director at AFA Försäkring, says.

Source: Cision

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