Castellum acquires office property in Solna Strand from Humlegården for approx. SEK 950 million

Rhea-AI Summary

Castellum has announced the acquisition of the office property Aprikosen 3 from Humlegården for approximately SEK 950 million. This strategic move strengthens Castellum's footprint in Solna, an established office area with excellent transport links. The property, covering 21,573 sqm and certified BREEAM In-Use 'Very Good', offers development opportunities and boasts a healthy tenant base. With an annual rental value of around SEK 56 million and an occupancy rate of 92%, this acquisition aligns with Castellum's goal of expanding its presence in the Stockholm market.

Positive

• Strategic acquisition strengthens Castellum's position in Solna, a key office market.
• Property has a 92% occupancy rate and an annual rental value of approx. SEK 56 million.
• BREEAM certification ('Very Good') indicates high environmental standards and potential for future rental growth.

Negative

• Acquisition cost of SEK 950 million may strain financial resources.
• Integration challenges could arise from merging operational practices with the new property.

GOTHENBURG, Sweden, July 1, 2021 /PRNewswire/ -- Castellum acquires the office property Aprikosen 3 from Humlegården and takes a step into one of Solna's most established office areas.

"It feels good to take position in Solna Strand, a well-established office cluster with great communications and service facilities. The property has a good tenant base and gives us development opportunities. This is a natural step in our ambition to grow further in Solna," says Henrik Saxborn, CEO of Castellum.

Solna Strand is a submarket located between Sundbyberg and Huvudsta along Bällstaviken. The area is easily reached regardless of mode of transport, and it takes just about 10 minutes to Stockholm city by subway. It is a well-established office cluster that will continue to develop as an office market.

"The location with proximity to both the subway and major roads is one of many qualities," says Martin Bjöörn, CEO of Castellum Region Stockholm-North. "The new acquisition strengthens our position in Stockholm and our product range in the Solna submarket."

Aprikosen 3 was built in 1972 and has a high and a low part. The property consists of flexible surfaces in a good standard, and is certified according to BREEAM In-Use "Very Good". The five largest tenants account for about 38% of the rental value.

The business in brief:
Castellum acquires the property-owning company for the office property Aprikosen 3 from Humlegården Holding III AB
Acquisition price: approx. SEK 950 million, including overheads
Access date: 1 September, 2021
Lettable area: 21,573 sqm
Annual rental value: approx. SEK 56 million
Larger tenant: Fenix Outdoor AB
Economical occupancy rate: 92%
Average contract duration (years): approx. 2.4

For more information, please contact:
Henrik Saxborn, CEO Castellum AB, +46 706-94 74 50
Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61

About Castellum
Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 96 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.

Beyond expectations.
www.castellum.se

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/castellum/r/castellum-acquires-office-property-in-solna-strand-from-humlegarden-for-approx--sek-950-million,c3377765

The following files are available for download:

https://mb.cision.com/Main/8364/3377765/1439362.pdf	Press release Solna Strand
https://news.cision.com/castellum/i/aprikosen3-fotografgustavkaiser,c2932018	Aprikosen3 fotografGustavKaiser

View original content:https://www.prnewswire.com/news-releases/castellum-acquires-office-property-in-solna-strand-from-humlegarden-for-approx-sek-950-million-301324246.html

SOURCE Castellum

FAQ

What is the purpose of Castellum's acquisition of Aprikosen 3?

The acquisition aims to strengthen Castellum's presence in the Solna office market and enhance its property portfolio.

How much did Castellum pay for Aprikosen 3?

Castellum acquired the property for approximately SEK 950 million.

What is the expected impact of the acquisition on Castellum's rental income?

The acquisition is expected to contribute an annual rental value of around SEK 56 million.

What are the key features of the Aprikosen 3 property?

The property offers 21,573 sqm of lettable area, a 92% occupancy rate, and is certified BREEAM In-Use 'Very Good'.

When does Castellum take possession of the Aprikosen 3 property?

Castellum will take possession of the property on September 1, 2021.