The property is fully leased to Stockholm City and at the start of 2018 the lease was extended by 6,5 years to 2024. Stockholm City runs a school in the facilities.
 
The property is sold in a company deal at an underlying property value of approximately EUR 16M before deduction of deferred tax. The buyer is Genova Property Group and possession is scheduled to be taken at the end of Q1 2018.
 
“The property was acquired 2013 and was temporarily leased while the changes were evaluated. Due to Stockholm City’s wish to extend the lease the divestment of the property was a natural decision,” says Fredrik Lidjan, CEO at Magnolia Bostad.