Kungsleden sells residential portfolio (SE)

Kungsleden AB (publ) sells the majority of the residential properties included in the portfolio acquired from Weland Fastigheter and Fogelvik Holding in the autumn of 2005. The sales price of the property portfolio amounts to €246,78 million and exceeds the book value with €9,66 million and the purchase value with €47,75 million. The later is included in the dividend based result for 2006.

The majority of the properties are situated in Sundsvall, Vårby,
Norrköping, Gävle, Köping and Karlstad. About 80% of the total lettable area of 330,000 m² are residential and the portfolio comprises about 3,900 apartments.

Purchasers are companies own privately by Erik Selin. According to Erik Selin the deal is about a long term private investment with the purpose of creating an independent management organisation separated from his other investments in the Real Estate sector.
Possession changes hands on 22 May 2006

Source: Kungsleden

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