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Castellum inks exchange deal with Wallenstam for Swedish assets

Castellum AB agreed to an exchange deal with Wallenstam AB to buy two properties and sell two assets in Sweden's Greater Gothenburg area.

The properties to be acquired, Göteborg Krokslätt 20:6 and Krokslätt 154:8, are worth 280 million Swedish kronor and encompass roughly 8,624 square meters of lettable area, with a 676 square-meter attached garage. The buildings in Mölndalsvägen are 98% occupied, according to Castellum, with a rental value of 17 million kronor and average remaining contract duration of 3.2 years. Castellum also purchased an additional 7,000 square meters of existing office building-rights as part of the acquisition.

Meanwhile, Mölnlycke Hönekulla 1:571 and Göteborg Kallebäck 3:4 are being sold for 335 million kronor. The assets are largely storage and industrial, with office space area, encompassing about 35,100 square meters. Rental value of the 97% occupied properties is 30 million kronor with average remaining contract duration of 2.2 years, according to a release.

Both transactions are expected to close Dec. 15.

As of March 30, US$1 was equivalent to 8.91 Swedish kronor.