ARTICLES TAGGED WITH "Corem"

Corem signs two lease contracts in New York

Sweden Sweden — Corem has signed two additional new lease contracts for a total of 1 234 sqm at the project property 28&7 in New York. The tenants, Chenel Capital and Superstate are both investment firms. Chenel Capital will move in on 807 sqm during the fourth quarter of 2024 and the lease term is five years. Superstate moved in on 427 sqm in the beginning of March and their lease term is three years.

"We will probably sell for another EUR 85–170 million in 2024"

Nordic — During the fourth quarter of 2023, Corem continued on the same track they had during the whole year with sales of properties at a rate that can hardly be compared with any other company on the Swedish market. CEO Rutger Arnhult describes one of these deals as the worst in his entire life. At the same time, he predicts that sales will continue in the billions range.

Capman buys from Corem

Denmark Denmark — CapMan Social Real Estate Fund acquires the office and educational property Porcelænshaven, in Copenhagen, from Corem.

Corem divests two properties in Gothenburg and Malmö

Sweden Sweden — In two separate deals, Corem has signed agreements for the sale of two properties in Gothenburg and Malmö at a total underlying property value of SEK 101 milllion, which is in line with book value.

Corem signs new lease in Copenhagen

Denmark Denmark — Corem has signed a ten-year lease agreement with SOS International regarding 5,160 sqm of office space in Fairway House, Copenhagen. Move-in is planned for early September 2024.

Corem divests two properties south of Gothenburg

Sweden Sweden — Corem has signed an agreement for the sale of two properties in Mölndal at an underlying property value of SEK 90 million, which is in line with book value. The buyer is KAB Fastigheter.

Rutger Arnhult increases holdings in Corem

Nordic — On December 29, 2023, Rutger Arnhult's M2 Asset Management, itself and via a wholly-owned subsidiary, acquired 8.1 million shares of series A and 70.6 million shares of series B in the property company and also the associated company Corem Property Group AB. After the transaction, M2 Asset Management AB and subsidiaries own 43.9 million shares of series A, 460.1 million shares of series B and 3.3 million shares of series D. This corresponds to 44.6 percent of outstanding capital and 45.6 percent of outstanding votes.

Corem divests Stockholm office building to Folksam

Sweden Sweden — Corem divests the property Orgelpipan 4 in central Stockholm for SEK 570 million (EUR 48.8 million) to Folksam.

Planned Corem divestments terminated

Sweden Sweden — Two letters of intent which were communicated have not resulted in agreed divestments but instead been terminated.

Corem signs long term-lease in New York

Sweden Sweden — Corem has signed a lease contract with AC Hospitality for 353 sq.m. of the project property 28&7 in New York. The tenant, that will run a restaurant and sports bar at 28&7, will move in during the third quarter of 2024 and the lease term is 15 years.

Corem's plans for the Danish market: Staying – but cannot rule out more divestments

Denmark Denmark — In one of the largest deals in Denmark in 2023, Corem sold two properties in Copenhagen – which together accounted for 59 percent of the company's rental value in the Danish portfolio – to AP Ejendomme for EUR 334. Corem's Head of Transactions, Peeter Kinnunen, tells Nordic Property News about Corem's future plans in Denmark and gives his view on the transaction market in Denmark versus Sweden.

Corem signs new lease in Örebro

Sweden Sweden — Corem signs lease of 1,200 sqm with Tietoevry in Örebro Entré.

Corem divests two properties for EUR 335 million

Denmark Denmark — Corem has today signed an agreement for the sale of two properties in Copenhagen at an underlying property value of approximately SEK 3,900 million, which is in line with book value. The buyer is a foreign actor.

Corem's Rutger Arnhult: "The stars have aligned"

Nordic — Corem's CEO Rutger Arnhult answered questions when the company's interim report was presented yesterday. Among other things, he talked about the possible continued sale of the portfolio and about the net operating margin, which has improved compared to the previous year.

Blackstone acquires logistics portfolio from Corem

Sweden Sweden — Corem Property Group has signed an agreement to divest a portfolio of 24 properties. The buyer is an entity owned by Blackstone-managed funds.

Corem signs LOIs for EUR 1 billion divestments

Nordic — Corem has signed letters of intent to divest properties at an agreed total property value of approximately SEK 12 billion (EUR 1.03 billion).

Corem signes five-year lease contract in New York

Sweden Sweden — Corem has signed a lease contract with 1 RoundTable Partners for approximately 380 sqm of the project property 28&7 in New York. The tenant, a private equity firm, will move in during the second quarter of 2024 and the lease term is five years.

Corem divests three properties in Sigtuna

Sweden Sweden — Corem has signed an agreement for the sale of three properties in Sigtuna at an underlying property value of SEK 115 million, which is in line with book value.

"I am almost surprised by the negative view of the housing market"

Sweden Sweden — John Sjölund, CFO at ALM Equity participated in Stockholm Corporate Finance's capital market days with a focus on the real estate market. He said, among other things, that there were several interested parties at Klövern, but also what made the decision in Nrep's favor in that deal. At the same time, he sees bright prospects for newly produced rental housing going forward.

Corem signs lease contract with restaurant wholesaler

Sweden Sweden — Corem has signed a 7-year lease with RestaurangJouren i Sverige AB, regarding a cold and freezer warehouse of nearly 2,000 sq.m. and approximately 1,100 sq.m. of land.

Corem and Alm Equity seals the Klövern-deal with Nrep

Sweden Sweden — The deal that was communicated on July 3 between Nrep and Corem Property Group, Alm Equity and Broskeppet Bostad was carried out on Thursday, according to two separate press releases from Corem and Alm Equity.

Corem fills Stockholm property – signs new lease

Sweden Sweden — Corem has signed a 5-year lease with restaurateur Niklas and Friends regarding 726 sqm in the property Orgelpipan 4, at Klarabergsgatan 33-35 in Stockholm. Occupancy is estimated at the end of 2023.

Corem divests a property in Linköping

Sweden Sweden — Corem has signed an agreement for the divestment of the property Paletten 1 in Linköping at an underlying property value of SEK 114 million (approximately EUR 10.4 million), which is in line with the book value.

Corem divests two properties in Linköping

Sweden Sweden — Corem has signed an agreement for the divestment of two properties in Linköping at an underlying property value of SEK 240 million.

Arnhult: "Corem probably needs to sell for another SEK 4–5 billion"

Sweden Sweden — Rutger Arnhult has been given a new lease of life since he returned to Corem as the new CEO in mid-June. In an out spoken interview with Nordic Property News he talks about what Corem's continued transactional work will look like, why the office market is not at all "stone dead" and he also gives a sober analysis of the low interest rates that created the bond problem that many real estate companies are now grappling with.