Rodamco Europe N.V. has sold the 50% share stake in Sollentuna centrum, Sweden to NCC for an amount of ca. SEK 42 million (ca. 4.5 million), based on a property value of SEK 208 million (ca. 23 million), corresponding to the book value per 31 December 2004, and debt amounting to SEK 166 million (ca. 18 million).
The asset with a total GLA of 20,000 m² and 56 units is located 11 km northwest of the center of Stockholm. The transaction will be effective 15 December 2005. Through the sale of Sollentuna, a relatively small shopping center of which Rodamco Europe only holds 50%, Rodamco Europe will continue to focus on dominant A-rated retail properties fully in line with its strategy.
Rodamco Europe's total shopping centre portfolio in the Nordic countries is valued at 1.1 billion per 31 March 2005 and now consists of 15 shopping centers, where Rodamco Europe has full ownership; the 400,000 m² of retail attract over 63 million visitors per annum and generate over 1 billion in sales per year.
Source: Rodamco
