Castellum Divests Properties for SEK 2.4 Billion

Biljana Pehrsson, CEO of Castellum.

Image: Kungsleden

Castellum Divests Properties for SEK 2.4 Billion

Sweden — Castellum is divesting Högkvarteret 1 and 2 in Helsingborg to Intea. The sale price is SEK 2.4 billion less overheads and deferred tax totalling approximately MSEK 120. The sale resulted in an impairment of goodwill of approximately MSEK 120 and deferred tax income of approximately MSEK 300. The underlying property value exceeds the latest valuation by 23%.

2021-12-22

The properties have approximately 37,500 square metres of lettable area and a rental value of MSEK 103 per year. The tenants are the Swedish Prison and Probation Service (Kriminalvården) and the Swedish Police Authority (Polismyndigheten). Closing will take place on 28 December.

“The sale will strengthen our financial position after the combination with Kungsleden and will realise an increase in value of approximately 23% compared to booked value as of Q3 2021. The transaction indicates the prevailing strength of the property market, and how the value in our portfolio has performed. Moreover, we will continue to invest in and develop properties for our key government tenants through our first-rate development portfolio,” says Biljana Pehrsson, CEO of Castellum AB.

Anthon Näsström

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