Castellum acquires for SEK 145 million and sells properties with a capital gain of SEK 22 million

Gothenburg, June 14, 2000
Through its local subsidiaries, the real estate company Castellum has acquired commercial properties and land for a total of SEK 145 million, and disposed of 16 properties, of which 13 residential properties, at a total of SEK 149 million with a capital gain of SEK 22 million.

Through the subsidiary Aspholmen Fastigheter AB, Castellum has acquired a larger warehouse property in the Boländerna district in Uppsala, which has developed into an external retail area. The property has a lettable area of about 23,600 square metres and a ground area of fully 61,000 square metres. The property, of which two thirds are let, contains several possibilities for future enhancements. The purchase price amounted to SEK 76 million. Aspholmen has also, for a purchase sum of SEK 4 million, acquired another smaller project property in the Aspholmen area in Örebro, where the company is the predominant owner.

I order to secure the generated values and to enable a continuous development of the company's holdings in Mariehäll, Fastighets AB Brostaden has redeemed two of the company's ground rent properties in the area. The acquisition also includes an adjacent undeveloped land property, earlier leased by the company. The total ground area amounts to approximately 28,800 square metres and the purchase price was about SEK 39 million.

Harry Sjögren AB has acquired an office property of about 2,000 square metres in the Åbro industrial area close to the southern beltway in Mölndal, south of Gothenburg. Approximately 25% of the lettable area was vacant at the time of acquisition. The property, which was purchased for SEK 14 million, includes a smaller unexploited building permission. For the purpose of securing future development possibilities for the ABB Business Center Gothenburg in Mölndal, Harry Sjögren AB has acquired two adjacent vacant lots of about 13,000 square metres at a total of SEK 8 million.

In the Sjöudden industrial area in Växjö, Fastighets AB Corallen has acquired an office property of about 1,600 square metres. Since the company already owns the adjoining property, this acquisition will make it possible to achieve a more efficient use and management. The purchase price amounted to SEK 4 million.

In line with Castellum's strategy of concentrating the residential portfolio, Eklandia Fastighets AB has disposed of six smaller residential properties in Gothenburg at a total of SEK 47 million. The properties sold, which are located in the districts Utby, Kviberg and Krokslätt, have a total lettable area of about 7,400 square metres. In addition, Harry Sjögren AB has sold two residential properties in Alingsås and Lerum with an area of about 5,100 square metres in all. The total sales price was SEK 37 million. Furthermore, Eklandia has sold another residential property to a housing co-operative. This time a property of about 3,500 square metres in Linnégatan in Gothenburg was sold for SEK 45 million.

In western Småland, Fastighets AB Corallen has disposed of seven properties at a total sales price of about SEK 20 million. The sale included four residential properties in Växjö and Gnosjö, two warehouse properties in Värnamo and Växjö as well as one unbuilt site in Gnosjö.

The above sales result in a total capital gain of about SEK 22 million. Consequently, the capital gains from property sales accounted for so far during 2000 amount to approximately SEK 89 million. Up to now acquisitions totalling some SEK 360 million have been made during the year.

For further information, please contact
Lars-Erik Jansson, CEO, tel +46 31 60 74 00/ mobile +46 705-92 06 70

Håkan Hellström, CFO/deputy CEO, mobile +46 705-60 74 56