7 October 2005, Stockholm
Fabege sells eleven properties for SEK 2.9bn
Fabege AB (publ) has today signed a contract for the sale of eleven properties to Keops EjendomsHolding, a Danish company, for SEK 2.9 billion.
The sale price corresponds to a yield of about 7 per cent. In relation to the book value as at 30 June 2005, the sale results in a profit of SEK 500 million. The buyer will access the properties on 1 December 2005.
The properties are located in Haninge (4), Huddinge, Sollentuna, Bromma, Nacka, Årsta, Rågsved and Södermalm. The total rentable area is 155,000 m2, of which 121,000 m2 is in Haninge/Huddinge. As a result of the sale, Fabege has now left Haninge.
Fabege is offering a three-year rental guarantee for 21,000 m2 and a five-year rental guarantee for 17,000 m2 as of October 2007. The reported result takes account of the rental guarantee.
The buyer intends to part-finance the deal through the issue of property bonds. The sale is contingent upon the buyer being able to arrange this funding.
See also Keops’ press release at www.keops.dk.
“Through the sale we further concentrate our holdings to the Stockholm region, and our focus on markets such as central Stockholm, Solna, Kista, Täby and Södra Hammarbyhamnen/Nacka becomes even clearer”, Erik Paulsson, Fabege’s CEO, comments.
Fabege AB (publ)
For more information, please contact:
Erik Paulsson, CEO, phone +46 (0)8-555 148 18, +46 (0)733-87 18 18
Olle Knaust, Deputy CEO, phone +46 (0)8-555 148 18, +46 (0)733-87 10 10
Mats Berg, Communications Manager, phone +46 (0)8-555 148 18, +46 (0)733-87 20 20