Castellum sells its residential properties in Malmö

Gothenburg, January 2, 1998

The listed real-estate company Castellum sells all its residential properties in Malmö at a total of SEK 281 million, which results in a capital gain of SEK 45 million. In Gothenburg five residential properties have been sold at a total of SEK 28 million with a capital gain of approx. SEK 4 million. Furthermore Castellum has acquired two commercial properties in Uppsala and Enköping as well as two warehouse and industrial properties in Sigtuna at a total of SEK 52 million.

Through its local subsidiary in Skåne, Fastighets AB Briggen, Castellum sells, with taking over at April 1st 1998, all its 28 residential properties in Malmö with in all 585 apartments and 47 000 square metres area to the municipal housing company MKB Fastighetsaktiebolag. The sales price amounts to SEK 281 million which results in a capital gain of SEK 45 million. The properties are for the most part situated in the districts Gamla staden, Kirseberg, Möllevången, Rörsjöstaden and Sofielund.

Eklandia Fastighets AB in Gothenburg has during December 1997, in the district Gamlestaden, sold five older residential properties with a total area of 4 800 square metres at a total of SEK 28 million. The transaction resulted in a capital gain of approx. SEK 4 million.

Aspholmen Fastigheter AB in Örebro acquires at SEK 33 million a commercial property of fully 9 300 square metres in Fyrislund industrial park in southern Uppsala, where the company earlier owns several properties. Furthermore the company buys in one transaction, one office and retail property of approx. 2 800 square metres in central Enköping, as well as two warehouse and industrial properties of approx. 2 700 square metres in Märsta in the municipality of Sigtuna at a total of SEK 19 million. The acquisitions, which were carried out in December 1997, strengthens the position of the company at the actual markets and supplies the portfolio with new development potential. The average economic occupancy rate in the properties amounts to 85 %. All the acquisitions will already the first year return a profit after full charge of interest and depreciations.

 
For further information contact
Håkan Hellström, CFO, +46 (0)705 60 74 56

Lars-Erik Jansson, deputy CEO, +46 (0)705 92 06 70