Fabege sells 16 properties for SEK 1,350m

Regulatory News:

Fabege (STO:FABGA) has divested a total of 16 properties, mainly outside of its prioritised market segments of Stockholm inner city, Solna and Hammarby Sjöstad. The buyer is Profi Fastigheter II AB and purchase price is SEK 1,350m. The transfer of ownership will take place on 12 January 2011. 

The properties comprise a total floor area of slightly more than 110,000 sqm, consisting primarily of office, warehouse and industrial space.

The sale generates an initial after-tax gain of SEK 70m, which will be recognised as profit during the fourth quarter of 2010. 

"We are delighted to have implemented this transaction, which has freed up resources for investments in our prioritised areas. As a result, Fabege has in principle streamlined its portfolio to the Stockholm inner city market segments of Solna Business Park, Arenastaden in Solna and Hammarby Sjöstad. For the tenants in the divested properties, it is extremely satisfying to hand over the management of the properties to another very good property owner,” says Klaus Hansen Vikström, Director of Business Development at Fabege.

Divested properties:  

Bordduken 7, Brommaplan, office, etc., 8,325 sqm

Brandsprutan 2, Näsbypark, office, etc., 13,270 sqm

Domnarvet 18, Lunda, office, etc., 5,624 sqm

Domnarvet 36, Lunda, office, 3,790 sqm

Elementet 1, Ulvsunda, office/retail/warehouse, 9,530 sqm

Jollen 4, Näsbypark, office, etc., 8,291 sqm

Karlsro 1, Järva, industrial/warehouse, etc., 12,965 sqm

Lillsätra 3, Sätra, industrial/warehouse, 8,519 sqm  

Linneduken 5, Brommaplan, office, etc., 2,608 sqm

Täby Näsbypark 73:5, Näsbypark

Sicklaön 145:19, Nacka, retail, etc., 17,026 sqm

Sicklaön 145:2, Nacka, office, 2,100 sqm

Sjukhuset 9-10, Danderyd, industrial/warehouse, 1,410 sqm

Styckjunkaren 3, Huvudsta, office, etc., 14,074 sqm

Veddesta 2:68, Veddesta, industrial/warehouse, 2,777 sqm

Profi:

Profi owns and manages properties in Sweden’s growth regions of Stockholm, Gothenburg and Malmö. Profi’s property holdings include more than 200,000 sqm of floor space, consisting of office, commercial, residential, warehouse and industry space. Its shareholders include Swedish mail pension funds (Postens Pensionsstiftelse), The Nobel Foundation, Pensions for Government Employees (Kåpan Pensioner), The Swedish Alcohol Retail Monopoly Pensioners’ Foundation (Systembolagets Pensionsstiftelse), City of Oslo (Akershus pensionsstiftelse) and City of Trondheim (Trondheims pensionsstiftelse).

This constitutes information that Fabege AB (publ) may be legally obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 10:00 am CET on 5 December 2010.

Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.1bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.2bn and a lettable area of 1.2m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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