Castellum divests its property portfolio in Jyväskylä to Nyfosa for SEK 2.1 billion

Rhea-AI Summary

Castellum has divested a portion of its Finnish property portfolio through the sale of nine properties in Jyväskylä to Nyfosa for SEK 2.1 billion. This transaction, closing on July 12, 2021, is a strategic step in focusing the company’s operations in Finland. The divested properties include notable tenants such as Kesko and Airbus, and feature a high economic occupancy rate of approximately 95%. The annual rental value is around SEK 0.2 billion, with an average contract duration of 1.4 years.

Positive

• Divestment of nine properties generates SEK 2.1 billion, improving liquidity.
• High economic occupancy rate of approximately 95%, indicating strong tenant demand.
• Strategic focus on enhancing the Nordic platform for sustainable properties.

Negative

• None.

GÖTEBORG, Sweden, July 8, 2021 /PRNewswire/ -- Castellum recently acquired a Finnish property portfolio through its acquisition of Kielo. Nine properties from the portfolio, located in Jyväskylä, are now being divested to Nyfosa for SEK 2.1 billion.

"The divestment is a geographic focusing of the Finnish portfolio. We are continuing our journey of growth, building an even stronger Nordic platform for sustainable, high-quality office and logistics properties," says Henrik Saxborn, CEO of Castellum AB.

The divestment comprises nine office properties and one building right, attractively located in the regional city of Jyväskylä. The buyer, Nyfosa, focuses on regional cities, and this is its second acquisition in the Finnish property market.

The transaction in brief: Castellum is divesting part of its Kielo portfolio, located in Jyväskylä, to Nyfosa
Sale price: SEK 2.1 billion
Closing date: 12 July 2021
Rental value: approximately SEK 0.2 billion/year
Average contract duration: 1.4 years
Major tenants: Kesko, Airbus and Jyväskylä University
Lettable area: 67,000 sq. m.
Economic occupancy rate: approximately 95%

This disclosure contains information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact persons, on 08-07-2021 19:00 CET.

CONTACT:

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

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

https://news.cision.com/castellum/r/castellum-divests-its-property-portfolio-in-jyvaskyla-to-nyfosa-for-sek-2-1-billion,c3382050

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SOURCE Castellum

FAQ

What is the total amount Castellum received from the divestment of its properties?

Castellum received SEK 2.1 billion from the divestment of its properties in Jyväskylä.

When is the closing date for the divestment transaction?

The closing date for the divestment transaction is July 12, 2021.

What is the economic occupancy rate of the divested properties?

The economic occupancy rate of the divested properties is approximately 95%.

Who are the major tenants in the divested properties?

The major tenants include Kesko, Airbus, and Jyväskylä University.

What is the annual rental value of the properties sold to Nyfosa?

The annual rental value of the properties sold to Nyfosa is approximately SEK 0.2 billion.