Via a company transaction, Wihlborgs is to acquire Ikano Fastigheter’s property portfolio in Ideon, Lund, southern Sweden and will now become the sole property owner in Ideon. The acquisition comprises ten properties with a lettable area of approximately 63,000 m².
The transaction also includes an exchange of building rights. Wihlborgs will obtain office building rights in the Ideon district while Ikano will gain residential building rights in Limhamn.
Wihlborgs is to pay SEK 1,500 million (approx. €173.45 million) net and will take possession on 1 July 2013.
“The office market in Lund is extremely attractive in the long term and we see this as a good opportunity to add to our existing portfolio in Ideon”, says Anders Jarl, CEO, Wihlborgs Fastigheter AB.
“Wihlborgs already owns around 40,000 m2 in Ideon, northeast Lund, and with the acquisition of Ikano’s share we will become an even more powerful player in the Lund research and development cluster”, continues Anders Jarl. “The synergies from owning the whole of Ideon will give us a return of 6.5 % on the investment.”
“Ikano has been a part of Ideon from the start, 30 years ago. We have had an active role in the development of Ideon as we see it today, with the latest addition of Ideon Gateway. Having decided to focus on retail
centers and housing we believe Wihlborgs is a highly suitable buyer and developer of the properties”, says Daniel Skoghäll, Managing Director Ikano Real Estate.
Leimdörfer has served as sole financial adviser to the seller Ikano Fastigheter in the transaction.
Source: Wihlborgs Fastigheter AB (publ)