Hemfosa Fastigheter implements acquisition of properties from Castellum valued at SEK 2 billion
Hemfosa Fastigheter has finalized negotiations concerning the acquisition from Castellum of 54 properties in southern and western Sweden with an underlying property value of approximately SEK 2 billion. The property portfolio comprises a total of approximately 280,000 sqm of leasable area distributed among public properties, office properties and logistics properties. Possession will be taken before year-end 2014.
Hemfosa is to acquire, via the wholly owned Castellum subsidiaries Fastighets AB Corallen and Eklandia Fastighets AB, a total of 54 properties in Växjö, Värnamo and Gothenburg. The leasing rate of the acquired property portfolio is approximately 90 percent and the major tenants include a number of large companies, the University of Gothenburg and the Swedish Employment Service.
The acquisition also encompasses 15 employees in Corallen’s property management organization, who will transfer to the Hemfosa Group in connection with Hemfosa taking possession.
“The acquisition from Castellum provides excellent potential for Hemfosa’s continued growth. It is an attractive portfolio of well-located properties generating stable cash flows. At the same time, the mix of the property portfolio favorably matches Hemfosa’s strategy of implementing property transactions whereby we continuously see how we can optimize our property portfolio in the best possible manner,” says Jens Engwall, President of Hemfosa Fastigheter AB.
For further information, please contact:
Jens Engwall, President, email@example.com, mobile phone +46 70-690 6550, switchboard +46 8-448 04
This constitutes information that Hemfosa Fastigheter AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was issued for publication on November 17, 2014 at 2 p.m. (CET).