Castellum is selling ten properties for c. €83.1m with deferred tax and overheads totalling c. €2.2m. The sale price confirms the carrying amount.
"We are continuing to streamline the portfolio geographically and divesting properties that either are solitary properties in our portfolio or are not a priority for us. Through these sales, we are delivering on our strategy of focusing on offices and logistics," said Joacim Sjoberg, CEO of Castellum Aktiebolag.
The properties being divested are Jarnet 6 in Tyreso; Tidskriften 2 in Sollentuna; Lexby 2:29 in Partille; Karra 80:7, Kobbegarden 209:1 and Kobbegården 208:6 in Gothenburg; Vammedal 2:110 in Molndal and Kopmannen 1, 3 and 8 in the Halla retail district of Vasteras. All amounting to a total leasable area of 65,440m2. The average occupancy rate for the properties is 94% and the major tenants include Internationella Engelska Skolan, Beijer Byggmaterial, Mechanum Sverige, Friskis & Svettis and Swisslog.
"It is gratifying to see the increased levels of activity in the transaction market. The capital realised from these transactions will now be allocated to new projects. We have many exciting project opportunities in the near future, including the Infinity office project in Hagastaden and logistics in strategic locations in Gothenburg and Stockholm. We will decide on project starts once all the conditions are in place," said Kristina Sawjani, Chief Investment Officer at Castellum Aktiebolag.
Castellum has come to an agreement in this transaction that the counterparty will not be named. The closing date is set for 31 of May 2024.
Image source - Pexels.
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