The properties are, based on the agreed property value, mainly located in Stockholm, Västerås and Malmö and the primary use is warehouse / light industry, care and school and offices. A new construction project is underway on one of the properties with a remaining investment of approximately SEK 250 million over the next 18 months.
Upon completion of the Project, the properties will have a lettable area of approximately 217,000 square meters and an annual rental income of approximately SEK 185 million. The properties' net operating income is estimated at approximately SEK 153 million and the average weighted length of signed leases amounts to approximately 8.6 years.
According to the current schedule, the intention is to enter into binding agreements on acquisitions and take over the properties in 2021. Randviken intends to finance the acquisitions through raising bank financing and through new issues directed at a number of parties. Randviken intends to return with additional information about the intended transactions, including, insofar as binding agreements are signed with each seller, final terms for the acquisitions and its financing at the latest when relevant agreements have been signed. The Board of Randviken intends to shortly decide on convening an Extraordinary General Meeting and propose that the Extraordinary General Meeting resolves to authorize the Board to issue shares in connection with both the aforementioned planned acquisitions and future acquisitions in line with Randviken's communicated growth strategy.
"These deals are fully in line with our strategy to grow with cash-generating properties with a well-balanced risk profile and will, when completed, take us a big step closer to our goal of SEK 10 billion in property value by the end of 2023," says Randviken's CEO Gustaf Segerborg.