The property will be acquired during the third quarter of 2019. The agreed underlying property value amounts to SEK 221.7 million. The rental value amounts to SEK 36.3 million with an average remaining contract period of 3.2 years excluding housing. The largest tenant is ICA with 10 percent of the rental value and the area vacancy amounts to 20 percent. The property consists of 17,205 sq.m. of lettable space and contains commercial premises, offices, housing and parking. Pangea Property Partners has been an advisor to Point Properties.
"Point Properties is working to create new conditions for viable urban environments together with municipalities and other actors around community service, commerce and housing. The acquisition includes both housing, commerce and community service and has a good central location where we look forward to continuing to contribute to a positive development for Trelleborg with this exciting center property," comments Lars-Johan Jarnheimer, board member of Point Properties.
"Point Properties continues to grow at a rapid pace and the property with its strategic location is important for the city and we look forward to being part of developing the property and the city further," comments Joachim Kuylenstierna, CEO of Fastator.