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Kungsleden acquires Skanska's 3 Swedish properties in 1B kronor deal

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Kungsleden acquires Skanska's 3 Swedish properties in 1B kronor deal

Kungsleden AB spent approximately 1 billion Swedish kronor to acquire Skanska AB's three assets, dubbed Kallebäck 2: 7, Kallebäck 2:11 and Kallebäck 2: 9, in Gothenburg, Sweden.

The properties offer roughly 30,000 square meters of total lettable area, including 18,300 square meters of office space and 11,600 square meters of parking garage space.

Kungsleden will gain possession of one office building and parking garage on Feb. 1, while the second office building will be accessible after its completion during the first quarter of 2019.

Försäkringskassan, ÅF, Capgemini, Handelsbanken and BeSiDa fully occupy the assets, reflecting an over 56-million-kronor total lease value, under an average lease agreement of 5.8 years.

After the transfer of all three properties, the market value of Kungsleden's modern office cluster in the Södra Centrum area will reach about 1.4 billion kronor, whereas lease value will amount to approximately 81 million kronor, according to a release.

As of Jan. 31, US$1 was equivalent to 7.87 Swedish kronor.