The acqusition price amounts to approx. EUR 29M, based on an underlying real estate value of EUR 30M, as well as deductions for deferred tax of around EUR 1M. The sales price for the divested properties totals approx. EUR 35M, after deductions for deferred tax and transaction costs.
 
The acquisition in Gothenburg comprises two property-managed buildings on Mölndalsvägen, featuring a total lettable area of approx. 8,624 sq.m, which primarily covers office space. Moreover, a further 7,000 sq.m. of existing office building-rights have also been obtained as part of the transaction.
 
The sales in Kallebäck and central Mölnlycke comprise a total 35,000 sq.m, mostly storage and industrial, with some portion of office space. The deal also signifies that Castellum has now completely withdrawn commercial activities from central Mölnlycke.
 
“It’s gratifying to carry out an exchange transaction that entails good office areas as well as zoning-planned building-rights for more office space in Gothenburg. Vacancy rates are historically low here, and the lack of modern offices poses a challenge when existing customers want to expand. This deal promotes the ongoing repositioning and further concentration of our portfolio,” says Henrik Saxborn, Castellum CEO.
 
Property occupation and vacating dates are both set for December 15th, 2017.