Fabege sells residential hotel in Solna (SE)

Fabege has divested the Hallen 6 property in Solna. The purchaser is Chinax Group and the purchase consideration is SEK 110 million (approx. €11.3 mln.). The approximately 4,600 m² building comprises a residential hotel. The purchaser will take possession on 26 May 2010.

The sale will generate an after-tax gain of SEK 20 million, which will be recognised in profit during the second quarter of 2010.

"The divestment is a further step towards the streamlining of our portfolio," says Christian Hermelin, CEO of Fabege, commenting on the transaction.

Source: Cision

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