Castellum acquires properties at SEK 572 million

Gothenburg, November 26, 1997
The listed real-estate company Castellum buys in five separate transactions, through its wholly-owned subsidiaries, 42 properties at a total of SEK 572 million. At the same time Castellum sells in one transaction 10 properties at SEK 37 million.

Through its local subsidiary in Western Småland, Fastighets AB Corallen, Castellum acquires, from Diligentia, 36 properties at a total of SEK 302 million. The properties, which on the whole are commercial and situated in Värnamo and Jönköping, have a total area of approx. 112 000 square metres, of which approx. 24 000 square metres are vacant. The acquisition strengthens substantially the company's position on the priority markets in Western Småland.

Fastighets AB Brostaden acquires in two separate transactions three office properties in Bromma, Stockholm with in all 30 000 square metres area, of which approx. 8 800 square metres are vacant, and a retail and warehouse property in Sollentuna outside Stockholm with approx. 10 000 square metres. The total purchase price amounts to SEK 207 million.

In Gothenburg, Eklandia Fastighets AB acquires an office- and warehouse property with a premises area of 5 500 square metres at a purchase price of SEK 44 million. The property which is fully let includes an outline permission for 4 000 square metres.

Fastighets AB Briggen acquires a warehouse and office property of approx. 4 000 square metres in the Fosie district in Malmö at a purchase price of SEK 19 million. The property, which was vacant at the time of the acquisition, is now fully let.

The acquisitions will immediately return a profit after full charge of interest and depreciations.

In Nässjö, Fastighets AB Corallen sells 10 residential properties with in all 9 000 square metres. The sales price, SEK 37 million, results in a capital gain of SEK 3 million. By this transaction Castellum entirely winds up its activities in Nässjö.

For further information contact
Håkan Hellström, CFO, +46 31 60 74 00
Lars-Erik Jansson, deputy CEO, +46 31 60 74 00