The total lettable area amounts to approximately 8,700 square meters and the properties also include land of approximately 50,000 square meters with potential for future development of both residential and community properties. At the property Gredelby 7:89, there is already a legally valid building right for housing.

The annual rental value for the properties amounts to approximately SEK 14 million with an expected net operating income of approximately SEK 12 million. The average remaining term of the leases exceeds seven years. Among the larger tenants are Knivsta municipality, Vardaga and Willys. Access is scheduled for December 1, 2020.

"With this acquisition, we strengthen our presence in the growing Knivsta with properties that add stable cash flows and long leases. The acquisition increases Genoa's total share of rental income from community properties and housing to over 50 percent. The acquired properties enable us to grow further in the area through future project development of rental housing and community properties on associated land, completely in line with our strategy to create building rights from our own property portfolio," comments Michael Moschewitz, CEO of Genova.

Genova's acquisitions are financed with a combination of loans and own funds.