Skanska sells four properties for SEK 1.1 billion, with a gain of SEK 550 M (SE)

Skanska sells four properties in the Stockholm area for SEK 1,091 M with a capital gain of about SEK 550 M. Buyer is the American investment bank The Blackstone Group. The capital gain will be reported in the second quarter of 2005, at which time transfer and payment will also be made.

The portfolio of properties comprises about 85,000 square meters of office premises in total. The properties Apelsinen 5 in Solna, Sprängaren 8 in Sundbyberg and Skalholt 1 in Kista were built by Skanska in the 70's and 80's. The property Dykaren 10 in Stockholm was acquired by Skanska in 1999 after which it was totally renovated.

Skanska Project Development Sweden focuses primarily on the initiation, development, management and sale of commercial property projects (offices, logistics and volume retail centers). The main emphasis is on Stockholm, Gothenburg and the Öresund region.

Source: Skanska

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