Klövern in Property Swap Deal with Corem

Sweden Sweden In a property swap deal with Corem, Klövern acquires three properties in Norrköping and one site leasehold to a property in Stockholm, and sells three properties and one site leasehold to a property in the Stockholm area.


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The underlying property value of the acquired properties amounts to MSEK 152 (EUR 16M). The underlying property value of the divested properties amounts to MSEK 238 (EUR 25M), which is in line with book value. The net difference of the property swap deal will be paid in cash.

The acquired properties in Norrköping and Stockholm (in the urban district Vinsta) have a total lettable area of 27,300 sq.m. and a rental value of MSEK 17 (EUR 1.8M). All four properties are situated close to Klövern's existing properties in each respective market. The property names of the acquired properties are Norrköping Stålet 3, Norrköping Bronsen 2, Norrköping Slakthuset 14 and Stockholm Singeln 13.
The divested properties (Sollentuna Ringpärmen 6, Sollentuna Revisorn 3, Järfälla Kallhäll 9:36, Stockholm Konsumenten 3) have a total lettable area of 24 200 sq.m. and a rental value of MSEK 22 (EUR 2.3M).
Transfer of possession is planned to be on 1 December 2017.

The property swap deal is subject to approval at an extraordinary general meeting of Corem but is deemed not to be of such a size that it requires approval at a general meeting in Klövern.

Axel Ohlsson

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