Heba Fastighets AB has signed an agreement for the transfer of five properties for an underlying property value of a total of SEK 774 million, of which three of the properties are covered by the company's renovation program. Access is planned for 2 October 2023.
The properties being transferred are Femlingen 1 and Fegen 1 in Årsta and Förgyllda Bägaren 2, 3 and 4 in Hägersten. All properties are residential properties.
The buyer of Femlingen 1 is Jan Fredegård and the property is transferred as a real estate transaction.
The buyer of Fegen 1 and Förgyllda Bägaren 3, which are transferred via company transaction, is Fastighets AB Senator.
The buyer of Förgyllda Bägaren 2 and Förgyllda Bägaren 4, which are also transferred via company transaction, is Tage Liljedahl Fastighets AB.
"With the sale, we are acting proactively and giving ourselves room to be able to work long-term. We are further strengthening our financial stability now in order to be prepared to act quickly when the economy turns. Through the sale, we are lowering the company's leverage ratio by 2 percentage points. In addition, we are reducing the need for investment by to sell properties from our renovation program. We are now almost completely done with major renovations," says Patrik Emanuelsson, CEO of Heba Fastighets AB.
The purchase price for the shares, as well as the liquid property deal, is based on an underlying property value of SEK 774 million and amounts to SEK 638 million provisionally. The total underlying property value is below the external valuation as of the end of March 2023 by 15 percent and Heba has chosen to include this unrealized change in value in the financial statements for Q2-2023. A deduction for deferred tax of 5.15 percent has been left in the transaction. The sale has, as a result of the reversal of deferred tax, a negative profit impact of approximately SEK 34 million for Heba.
Femlingen 1 includes 34 apartments with a total of 2,208 square meters. Fegen 1 includes 39 apartments with a total of 2,282 square meters. Gilded cups 2, 3 and 4 comprise a total of 183 apartments of 14,842 square meters, 6 premises of 736 square meters.
"We are happy to be able to acquire the properties from Heba, who have owned them for a long time, now that they are selling to us," says Jan Fredegård, CEO of Fastighets AB Senator, who acquired his first property in 1980 and still owns it.
Advokatfirman Lindahl has been legal advisor to the seller.