Keops Group to sell Swedish residential portfolio (DK/SE)

Keops Group has decided to offer Swedish residential portfolios for sale. This is done by offering a total pool of three Swedish property companies: parts of the Malmstaden portfolio (residences in Norrköping), the Borgs portfolio (residences in Norrköping) and the PBA portfolio (residences in Malmö, Kalmar and Karlskrona).

The pool comprises 66 properties of a total of 4,489 flats and approximately 346,000 m². The properties are primarily residential properties as only 52,087 m² are rented out for other purposes (primarily shops on the ground floor).

The offering is initiated to ensure market price. In June, several Swedish market players showed serious interest in acquiring this pool of property companies. Accordingly, the offering is initiated to ensure best price as well as to make the portfolio available for any other interested investors in Denmark, Sweden and other countries.

If Keops decides to go through with the sale, it will most likely take place before the end of 2006.

Property Bonds may be redeemed early at a premium. If the sale is carried through, it will result in two series of Property Bonds being redeemed at a premium. These are:

  • 8,5% Keops EjendomsObligationer III 2011
  • 9% Keops EjendomsObligationer III 2014

Any early redemption of the bonds will be published giving at least 30 days' notice.

Source: Keops

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