Klövern AB agreed to sell a logistics property in Mölndal, Sweden, for 643 million Swedish kronor.
The Hästägaren 3 property has a net lettable area of roughly 48,000 square meters and primarily comprises KappAhl's central warehouse and head office.
The property has a rental value of roughly 39 million Swedish kronor and an occupancy rate of 100%.
The transfer of ownership is expected to occur Jan. 11, 2018.
As of Dec. 20, US$1 was equivalent to 8.37 Swedish kronor.