Sweden's Kungsleden has purchased eight properties for EUR 22.6 mln, generating a yield of 7.2%. The properties are in Goteborg, Kungalv and Uddevalla and have a total lettable area of 31,000 m2, with a rental value of EUR 2.4 mln. Kungsleden takes possession of the buildings on 1 December.
Sweden's Kungsleden has purchased eight properties for EUR 22.6 mln, generating a yield of 7.2%. The properties are in Goteborg, Kungalv and Uddevalla and have a total lettable area of 31,000 m2, with a rental value of EUR 2.4 mln. Kungsleden takes possession of the buildings on 1 December.
At the start of the month Kungsleden divested 172 Swedish properties to Keops of Denmark for SEK 6.3 bn (EUR 685 mln). The final net trade will be disclosed later in Kungsleden's 4th quarter results, but it is expected to come to about EUR 60 mln. By the end of September 2006, Kungsleden had 652 properties with a book value of EUR 2.6 bn. Barclays Capital announced on Wednesday that it is providing Keops with a loan for a total of DKK 4.2 bn (EUR 563 mln) to fund the acquisition.
