Castellum divests properties and signs LOI for SEK 2 billion
Castellum has completed the divestment of a commercial property portfolio consisting of five properties, achieving a sale price of approximately SEK 219 M, in line with book value. Additionally, Castellum signed conditional agreements for a further SEK 1.8 billion. This sale is part of a strategy to streamline its portfolio following its acquisition of Kungsleden. Over the autumn, Castellum has sold properties worth around SEK 2.2 billion and signed agreements for an additional SEK 1.8 billion, totaling about SEK 4 billion in divestments.
- Achieved a sales price of approximately SEK 219 M, consistent with book value.
- Signed conditional agreements for further SEK 1.8 billion in property sales.
- Increased geographical concentration in the property portfolio following strategic divestments.
- Divestment of properties in Halmstad and Alingsås may indicate regional market weakness.
GOTHENBURG, Sweden, Dec. 23, 2022 /PRNewswire/ -- Castellum divests a commercial property portfolio with 5 properties. The sales price, which is in line with the book value, amounts to approximately SEK 219 M with a market deduction for deferred tax. In addition, there are conditional agreements and letters of intent signed for a further SEK 1.8 billion.
"We follow our strategy of divesting properties in connection with the acquisition of Kungsleden that contribute to an increased geographical concentration in the portfolio. With today's deal, Castellum is leaving Halmstad and Alingsås. During the autumn, Castellum has sold properties for approximately SEK 2.2 billion and signed conditional agreements or letters of intent for a further SEK 1.8 billion," says Rutger Arnhult, managing director of Castellum AB.
The properties being sold in the trading portfolio are Eketånga 24:56 and Eketånga 3:204 in Halmstad, Direktorén 8 in Västerås, Plommonet 12 in Alingsås and Ran 20 in Uddevalla. The largest tenants are ICA and Willys.
Castellum's other disposals during the autumn are Sockeln 1 in Malmö, Raklinjen 2 in Borås, Spindeln 8 in Malmö, Narcissus 5 in Borås, Bulten 1 in Alingsås, Älvsborg 178:8 in Gothenburg and Löddeköpinge 14:54 in Kävlinge, Skällared 3:49 in Kungsbacka, Ånsta 20:117 in Örebro, Götaland 9 in Jönköping and Marievik 27 and 30 in Stockholm.
In total, Castellum's divestments during the autumn sums up to around SEK 4 billion, including conditional agreements and letters of intent.
For further information, please contact:
Rutger Arnhult, CEO Castellum AB, +46 31 60 74 00
Kristina Sawjani, Chief Investment Officer Castellum AB, +46 31 60 74 60
About Castellum
Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 30 September 2022, the property value totalled approximately SEK 186 billion, including the ownership share of the Norwegian company Entra ASA. We are active in attractive Nordic growth regions. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se
The following files are available for download:
https://news.cision.com/castellum/i/rutger-arnhult-low-halvkropp,c3129495 | Rutger Arnhult LOW halvkropp |
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SOURCE Castellum
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