Castellum divests property in Copenhagen to Genesta for DKK 778 million
Castellum has sold the Sundby Overdrev property in Copenhagen to Genesta for DKK 778 million, aligning with its Q4 2020 valuation. The property, owned since the Norrporten acquisition, is nearly vacant with an occupancy rate of 34% and a rental value of DKK 65 million. This sale allows Castellum to reinvest in office and logistics properties, reaffirming its strategy for growth in the Nordic region and emerging markets. Remaining in the Copenhagen portfolio are properties valued at DKK 4 billion.
- Sale price of DKK 778 million aligns with latest property valuation.
- Remaining properties in Copenhagen valued at DKK 4 billion ensure continued investment potential.
- Sundby Overdrev property has a low economic occupancy rate of 34%.
GOTHENBURG, Sweden, April 19, 2021 /PRNewswire/ -- Castellum has entered into an agreement with Genesta to sell the Sundby Overdrev property at the address Kay Fiskers Plads 9-11 in Copenhagen. The purchase price of 778 MDKK is in line with the latest valuation in Q4 2020.
The property has been owned by Castellum since the acquisition of Norrporten and has given a good return during these five years. When the property now becomes almost completely vacant, we choose to sell and invest in other office and logistics properties via new production and acquisitions. Our strategy to grow in the Nordic region and emerging markets such as Copenhagen remains unchanged, says Henrik Saxborn, CEO of Castellum.
Castellum is one of the Nordic region's largest players in offices and warehousing / logistics. Remaining in the Copenhagen portfolio are offices and logistics properties worth DKK 4 billion.
The business in brief:
Castellum divests the property Kay Fiskers Plads 9-11, 2300, Copenhagen S
Net sales price: DKK 778 million after deduction of deferred tax and expenses of approximately DKK 45 million
Resignation date: 1 July 2021
Rental value: approx. DKK 65 million
Economical occupancy rate: approx.
Total lettable area: 32,477 sqm including garage
Address: Kay Fiskers Plads 9 and 11, 2300 Copenhagen S
Buyer: Genesta (GNRE Fund lllDenmark BidCo lApS)
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 SEK 103 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 4.4 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.
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The following files are available for download:
Press release 210419 | |
https://news.cision.com/castellum/i/sundby-20overdrev-mg-2851,c2900834 | Sundby 20Overdrev MG 2851 |
https://news.cision.com/castellum/i/ferring-facade---kopi,c2900835 | Ferring Facade - Kopi |
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SOURCE Castellum
FAQ
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