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Hemfosa Fastigheter to buy Swedish portfolio for 1.07B Swedish kronor

Hemfosa Fastigheter AB signed a deal to acquire a portfolio located in Halmstad on the Swedish west coast from Fem Hjärtan Holding AB, for an underlying property value of 1.07 billion Swedish kronor.

The portfolio totals roughly 57,800 square meters and comprises 10 properties, most of which are office properties with tenants in the community services sector. The bulk of the portfolio's rental income is generated from public-sector tenants, with the three largest tenants, Municipality of Halmstad, the Swedish Tax Agency and Halmstad County Administrative Board, jointly representing 38% of rental income.

The average remaining lease is 2 years, while the leasing rate is approximately 90%.

The company said possession is scheduled Sept. 1.

As of June 8, US$1 was equivalent to 8.72 Swedish kronor.