17 June 2005, Stockholm
Kungsleden makes acquisitions
Listed property corporation Kungsleden AB (publ) is acquiring 32 properties for a purchase price of SEK 750 m including transaction costs, at an estimated property yield of 7.5 percent.
The properties are primarily Axfood outlets and Åhléns department stores. Total floor-space is over 107,000 sq.m. with rental values of nearly SEK 89 m. Axfood and Åhléns represent approx. 80 percent of the rent.
Kungsleden's Chief Executive Jens Engwall said: "I'm very pleased we could complete this deal, and thereby further increase the retail share of our property portfolio. This acquisition complements well our previous acquisitions of 27 retail properties from ICA"
For more information, please contact:
Jens Engwall, Kungsleden's CEO, phone: +46 (0)8 503 052 04,
mobile +46 (0)70 690 65 50
Lars Thagesson, Kungsleden´s COO, phone: +46-8-503 052 30, mobile +46-(0)70