Genova acquires seven community properties with lettable area of ​​approximately 27,000 square meters through company acquisitions for an underlying agreed property value of SEK 650 million before deduction for deferred tax liability of SEK 25 million. Furthermore, Genova has engaged Carnegie and Swedbank to investigate the conditions for a directed new issue of preference shares.

# The properties are located in strategic locations with proximity to good communications and complement Genova's existing property portfolio.

# Tenants are among other things Yrkesplugget in Sweden, Entréskolan, Uppsala Municipality and the Police Authority. The properties are fully leased and rental income amounts to approximately SEK 42 million annually and the operating net to approximately SEK 35 million.

# The average remaining lease term is 7.6 years.

# Access will take place on two occasions, of which the six properties in Stockholm and Uppsala are expected to be taken up during the third quarter of 2019 and the property in Norrtälje is expected to be taken up during the first quarter of 2020.

# The acquisition is not conditional on financing, the Company will finance the acquisition through existing funds and newly acquired bank credit facilities.

# In addition, Genova has hired Carnegie Investment Bank AB (publ) and Swedbank AB (publ) as financial advisor to investigate the conditions for carrying out a directed cash issue of preference shares with the support of the issue authorization the Board received at the Annual General Meeting on May 20, 2019. new issue of preference shares is carried out in order to strengthen Genova's financial preparedness for investments in and acquisition of properties.

“This is a strategically important acquisition that fits Genova very well in terms of both geography and profile. Through the deal, we take a substantial growth step in the main markets Stockholm and Uppsala, and strengthen our position in community properties. Genova will grow both through the acquisition of investment properties and new production, and we see future interesting opportunities in good locations at these properties,” comments Michael Moschewitz, CEO of Genova Property Group.