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ARTICLES TAGGED WITH "Corem"

Corem signs long term-lease in New York

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

Corem divests two properties for EUR 335 million

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 — 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 — 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 — 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 — 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 — 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 — 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 — 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 — 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 — 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 — 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.

New capital-strong owner in place – this is the next step for Klövern

Sweden — Nrep are the capital-strong owners that Klövern sought after a tough start when, among other things, Corem was in a process of shedding off the housing segment, according to chairman Patrik Essehorn. At the same time, Corem, as one of the major owners, has been hit hard by extensive borrowing and high interest rates. Rutger Arnhult, Corem's CEO since a few weeks ago, tells Nordic Property News that Klövern will now be able to accelerate much faster than the company would otherwise have been able to do.

Corem divests two properties in Sigtuna and Kalmar

Sweden — In two separate deals, Corem has signed agreements for the sale of two properties at an underlying property value of SEK 164 million (EUR 14.9 million), which is in line with book value.

Nrep becomes the new main owner in Klövern – invests EUR 550 million

Sweden — Corem Property Group, Alm Equity and Broskeppet Bostad, which together own the housing company Klövern, have today agreed with the property investor Nrep on the sale of 51 percent of the shares in Klövern for approximately SEK 2.5 billion, including a dividend. NREP also undertakes to invest a further total of approximately SEK 4 billion in Klövern over time, through directed share issues.

Corem's Massive Divestment Journey

Nordic — Since the acquisition of the old version of Klövern went through, Corem has started a serious divestment project. Nordic Property News has taken a closer look at the work which – in addition to the sales to the own JV company with ALM Equity and the disposal of all shares in Castellum – after the latest sale in Denmark now amounts to close to SEK 10,833 million (approximately EUR 927 million) since December 2021.

Scope affirms Corem’s BBB- issuer rating

Sweden — Corem has received an updated issuer rating from Scope Ratings GmbH. The update affirms Corem’s BBB- rating, with a revised Outlook from Stable to Negative.

Areim acquires four light industrial properties in Gothenburg

Sweden — Areim acquires four light industrial properties in Gothenburg through two deals totalling approximately 17,000 sqm lettable area. The properties are located in the Sävedalen and Landvetter Industrial areas.

Corem divests a property in Denmark

Denmark — Corem has signed an agreement to divest a property outside Copenhagen at an underlying property value corresponding to SEK 250 million (approximately EUR 21.5 million), which is in line with book value.

Corem signs lease contract in New York

Sweden — Corem has signed a lease contract with Patis Bakery for approximately 190 sq.m. of the ground floor in the project property 28&7 in New York. The tenant, a bakery chain, will move in during the first quarter of 2024 and the lease term is 15 years.

Corem divests two properties in Gothenburg

Sweden — Corem has signed an agreement to divest two properties in the Gothenburg area at an underlying property value of SEK 111 million (approximately EUR 10 million), which is in line with book value.