Hems� purchases property for Skr 180 million


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Friday, 01 July 2011
Listed Swedish property company Kungsleden AB (publ) is purchasing a public property for a total purchase price of approximately SEK 180 m including transaction costs through Hems�, which is 50:50 owned by Kungsleden and AP3 (the Swedish Third Pension Insurance Fund). The initial property yield is 6.4%.

The property is located in the Norra Hamnen waterfront area of Swedish resort town Lysekil and has leasable area of approximately 9,000 sq.m. The property is a high school under construction with the municipality of Lysekil as the future tenant in a 20-year agreement. Total rental value is approximately SEK 13,300,000.
Completion is scheduled for February 2012.
“It’s positive for Hems� to expand our property holding in Lysekil where we already enjoy successful collaborations. The property is a good fit with existing holdings in terms of its risk-adjusted returns,” commented Kungsleden’s Chief Executive Thomas Ers�us.

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