Rodamco Europe sells its 50% share stake in Sollentuna Centrum, Sweden for SEK 42m (SE)

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

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