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Wallenstam AB Sells and Acquires Properties; Acquires Development Rights


Thursday, 20 Jun 2013 02:00am EDT 

Wallenstam AB announced that it has signed an agreement for the sale of properties for a total of SEK 1.4 billion, property acquisition equivalent SEK 503.2 million and acquisition of two development rights. The sales include Wallenstam investment property in Helsingborg, excluding project and project properties and real estate in Nacka, Orminge. Acquisitions comprise nine residential properties in central Gothenburg and two development rights in Uppsala. Development rights in Uppsala are located in Granby and Kvarngardet and are being acquired from Rikshem. The nine residential properties which Wallenstam acquires from Rikshem with central addresses such as Norra Gubberogatan, Redbergsvagen and Friggagatan will be taken over on September 30, 2013. The properties in Helsingborg are sold for a property value of SEK 858.6 million to Rikshem and include Wallenstam investment property, excluding properties which are under rebuilding or new construction such as Vildvinet 1, 3 and 4, Pal Ibb 21 and Oscar II 11. Wallenstam's investment in new construction in Helsingborg is continuing as planned. First up are the new constructions in Larod and Mariastaden. Tenzing has been advisor in the transaction. Agreement for sales in Nacka Orminge relates to Orminge 39:1, with address Skarpovagen, sold to one of the tenants formed housing for SEK 310 million. The second sale is Orminge 44:1, with address Edovagen, sold for SEK 203.5 million. Access for both takes place during September 2013. 

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