The Swedish property company Kungsleden AB has acquired 10 properties from the Bröderna Edstrand Group for MSEK 204. The portfolio consists of properties with a lettable area of 100.000 m² with a rental value of MSEK 23. The yield based on the purchase price is calculated at 11 %.
In connection with this deal the Bröderna Edstrand Group signs rental contracts in the properties with a rental period up to 15 years. The Bröderna Edstrand Group also has a option to require extension of one property within 4 years at a estimated investment of MSEK 30 and a yield of 10%.
“I am very pleased to close this deal with the Bröderna Edstrand Group while we get properties that complement our existing portfolio together with a good tenant” says Jens Engwall, CEO of Kungsleden, commenting the transaction.