Kungsleden has signed an agreement to sell 15 commercial and office properties in Eskilstuna, Sweden to Fastighets AB Regio. The sale price amounts to c. €68m (700m SEK) before deduction of deferred tax, which is in line with the properties’ book value. The properties have a leasable area of more than 80 000m², of which approximately 20 000m² have been vacant for an extended period of time.
”We had the opportunity to sell our Eskilstuna properties to a long-term property owner with a focus on regional cities. The released capital will be used for value-creating investments in one of our priority markets: Stockholm, Gothenburg, Malmo or Vasteras. The transaction also means that we strengthen our focus on offices and reduce the proportion of commercial properties in the portfolio to represent 5% of total real estate value”, says Ylva Sarby Westman, Deputy CEO and CIO at Kungsleden. The closure will take place in January 2019 and the annual operating net loss amounts to c.€3.9m (40m SEK).
