Castellum, one of Sweden’s largest real estate companies, has acquired a substantial property in central Helsinki, thereby establishing itself as a major player in a new attractive market.
Castellum is acquiring the Salmisaarenaukio 1 building, in the Ruoholahti office-block area of Helsinki. The building comprises approx. 14,433 sq.m, and the investment is a solid element of Castellum’s strategy for building a strong Nordic real estate portfolio.
“Through this acquisition in Finland, it’s gratifying to note that Castellum is taking the next step in our strategy to grow and establish ourselves in several Nordic growth areas. We aim to be one of the major commercial real estate owners in Helsinki”, says Castellum CEO, Henrik Saxborn.
Salmisaarenaukio 1 is a modern and versatile property, situated in one of Helsinki’s most attractive and easily-accessed office clusters, Ruoholahti. Several major companies have located their headquarters in the area, and Castellum sees bright possibilities for growing in both the office and logistics segments, in a predominantly strong and stable market. Castellum takes immediate possession of the fully-leased building. The investment is assessed to generate annual revenues of approx. €5.0 million, which corresponds to SEKm 52, at today’s currency exchange rate.
Initial responsibility for the property will be designated to Sweden, but Castellum’s ultimate aim is to develop and establish a local organization in Finland.
Castellum will finance the acquisition through existing, unused credit.
Summary of the transaction:
Castellum acquires the Salmisaarenaukio 1 building from Skandia Fastigheter (constructed 2007)Acquisition price: €81 million, including costs (SEKm 842)Occupancy: June 29, 2018Average remaining contract duration: 3.1 years
Rental values: approx. €5.0 million (SEKm 52)
Major tenants: Nokia Corporation (technical), Fennovoima Ltd. (energy)
Leasable area and leasing rate: Approx. 14,433 sq.m. leasable area, with garage facilities; leasing rate – 100%
This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 14.20 am CET on June 29, 2018.
For additional information, please contact:
Henrik Saxborn, CEO Castellum AB, phone +46 31 60 74 50
Ulrika Danielsson, CFO, Castellum AB, phone +46 706 47 12 61
Castellum is one of the largest listed real estate companies in Sweden. Property values amount to 82 billion kronor and holdings comprise office, warehousing/logistics and public-service premises, covering a total leasable area of 4.4 million square metres.
The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities in Sweden and also in Copenhagen and Helsinki.
In 2017, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues.
The Castellum share is listed on Nasdaq Stockholm Large Cap.
Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Corp Id no SE 556475-5550 | Phone +46 31 60 74 00