Skanska divests remaining ownership in Bank of America Tower in Houston, USA, for approximately USD 24M, about SEK 200M
Skanska has divested its remaining 10% stake in the Bank of America Tower in Houston, Texas, for approximately USD 24M (SEK 200M). This transaction will be recorded in Q3 2021. Previously, Skanska sold its majority interest in the tower in 2019. The tower, completed in 2019, is notable for being the first v4 Platinum certified project in the U.S. Since 2009, Skanska has invested USD 2.8 billion in sustainable projects in the U.S.
- Successful divestment of the remaining 10% stake in the Bank of America Tower for USD 24M.
- Completion of the tower in 2019, enhancing Skanska's portfolio with a certified sustainable project.
- None.
ÖSTERSUND, Sweden, July 15, 2021 /PRNewswire/ -- Skanska has sold their remaining 10 percent ownership stake in Bank of America Tower in Houston, Texas, USA, for approximately USD 24M, about SEK 200M, to an affiliate of Beacon Capital Partners. The transaction will be recorded by Skanska USA Commercial Development in the third quarter 2021. The transfer of ownership of the property is also expected to occur in the third quarter 2021.
The divestment follows Skanska sale of its majority interest in 2019 to an affiliate of Beacon Capital Partners. Bank of America Tower in Houston is the first v4 Platinum Core & Shell certified project in the United States, and the third in the world. Tenants include Bank of America, Waste Management, Winston and Strawn, Quantum Energy Partners, and Skanska. Construction of Bank of America Tower was completed in the second quarter of 2019.
Since 2009, Skanska has invested a total of USD 2.8 billion in commercial and multi-family projects, creating more than 1 million square meters of sustainable and community focused developments in select U.S. markets.
Skanska is one of the leading construction and project development companies in U.S., specialized in building construction, civil infrastructure, and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 66 billion in 2020 and had about 7,600 employees in its operations.
For further information please contact:
Alicia Jones, Director Communications, Skanska USA, tel + 1 703 835 2762
Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94
Direct line for media, tel +46 (0)10 448 88 99
This and previous releases can also be found at www.skanska.com.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
20210715 US divestment BoA Tower | |
https://news.cision.com/skanska/i/image-1---boa-tower,c2936309 | Image 1 - BoA Tower |
https://news.cision.com/skanska/i/image-2---boa-tower,c2936310 | Image 2 - BoA Tower |
View original content:https://www.prnewswire.com/news-releases/skanska-divests-remaining-ownership-in-bank-of-america-tower-in-houston-usa-for-approximately-usd-24m-about-sek-200m-301334401.html
SOURCE Skanska
FAQ
What is the recent transaction involving SKBSY?
When will Skanska record the sale of Bank of America Tower?
How much has Skanska invested in projects since 2009?
What certification does the Bank of America Tower hold?
