Castellum acquires United Spaces
Castellum has signed an agreement regarding the acquisition of all shares in United Spaces for SEK 200 million. United Spaces offer their customers flexible office space solutions in the form of coworking at central locations in Stockholm, Gothenburg and Malmö. United Spaces will also open up operations at Arlanda, starting in the spring 2019. Castellum views the acquisition as an important investment for the future and it adds growth within a new segment. The closing conditions are expected to be fulfilled during the latter half of February 2019, where after closing will occur.
Coworking and shared office-space concepts have already made advances in larger cities, and vigorous growth is predicted for coming years. In central London and New York's Manhattan, coworking now accounts for 25-30 percent of the newly signed lease agreements on the office-space market.
Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 89.2 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.3 million square metres. Castellum has business in 20 cities in Sweden and also in Copenhagen and Helsinki. The Castellum share is listed on Nasdaq Stockholm Large Cap.
Castellum was advised by Mannheimer Swartling in the transaction.