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Fabege divests Swedish asset for 268M kronor

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Fabege divests Swedish asset for 268M kronor

Fabege AB sold the Lagern 4 property in Solna, Sweden, to a unit of Pareto for an underlying value of 268 million kronor after tax.

The former office asset presently houses schools and a care home for people with disabilities, and will be leased to the municipality's Råsunda Central School from the fourth quarter.

The disposal is part of Fabege's strategy to focus on office assets, the company said.

As of Aug. 9, US$1 was equivalent to 8.98 Swedish kronor.