October 22, 2013 - Assignment

Kungsleden and GE sign SEK 5.5 billion property acquisition

Listed Swedish property company Kungsleden AB (publ) has signed an agreement with GE Capital Real Estate to acquire a portfolio of 84 commercial properties. The transaction value is approximately SEK 5.5 billion.

The properties are mostly office buildings and are largely situated in Stockholm and Gothenburg. The total leasable area is about 567,000 square meters. Debt financing has been obtained from four leading Nordic banks.

Kungsleden was advised by Mannheimer Swartling in the transaction. Mannheimer Swartling’s team comprised Klas Wennström, Tomas Johansson and Olle Källström (Real Estate), Henric Diefke and Daniel Stålberg (Employment and Pensions), and Thomas Pettersson, Veronica Stiller, Daniel Khayyami and Liisa Rajala Malmgren (Banking and Finance).