Fabege sells Päronet 8 in Solna Strand
6/17/2010 2:15 AM EST
Fabege has divested the Päronet 8 property in Solna Strand. The purchaser is Hamburg-based real estate investment company Union Investment, who acquired the building for one of its institutional property funds. The purchase consideration is SEK 555m. The approximately 21,600 sqm building comprises office area. The purchaser will take possession on 30 July 2010.
The sale will generate an after-tax gain of SEK 50m, which will be recognised in profit during the second quarter of 2010.
“The sale is following Fabege´s business model, the property is fully developed and is an attractive investment property with good tenant, and therefore a good investment for institutional investors, ”says Christian Hermelin, CEO of Fabege.
Fabege AB (publ)
For further information, please contact: Christian Hermelin, CEO, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, phone +46 (0)8-555 148 29, +46 (0)706-66 13 80
Annette Kaunitz, Head of Corporate Communications, phone +46 (0)8-555 148 20, +46 (0)708-39 03 37
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 08:15 am CET on 17 June 2010.
Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.3bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.3m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.