Castellum sells the property portfolio in Värnamo and Växjö and one property in Gothenburg for SEKm 1,946

Castellum AB (publ) has, through the wholly owned subsidiary Fastighets AB Corallen, sold the company’s 53 properties in Värnamo and Växjö totaling 271,500 sq.m. The transaction also includes a property of 10,500 sq.m. in Gothenburg owned by the wholly owned subsidiary Eklandia Fastighets AB.

The buyer is Hemfosa Fastigheter.

The sales price amounted to SEKm 1,946 after reduction for assessed deferred tax and transaction costs of SEKm 98 in total. Hence, underlying property price amounted to SEKm 2,044, which was in line with latest valuation. In addition a rental guarantee is submitted of approx. SEKm 20, for which provision has been made. The change of possession will take place in December, 2014.  

With the acquisition 15 employees in Corallen’s property management organization in Värnamo and Växjö transfer to Hemfosa Fastigheter.

“This is our largest single sale since Castellum’s IPO 1997. Now we continue to be a net investor, both through acquisitions and – above all – by new constructions, extensions and reconstructions”, says Castellum’s CEO Henrik Saxborn in a comment. “For example we have created the conditions by the land acquisition at the central railway station in Örebro city and on Lindholmen in Gothenburg, totalling SEKm 96.”

“The transaction will strengthen the company and gives us better conditions to continue to deliver growth in income from property management – and hence create shareholder value to low risk”, Saxborn adds.

Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

For further information, please contact

Henrik Saxborn, CEO, phone +46 31-60 74 50

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 40 billion, and comprises premises for office, retail, warehouse and industrial purposes with a total lettable area of approx 3.7 million sq.m. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland.

Castellum AB (publ), Box 2269, SE-403 14 Göteborg | Org nr/Corp Id no SE 556075-5550 | Phone +46 31 60 74 00 Fax +46 31 13 17 55

Castellum is listed on NASDAQ Stockholm Large Cap.