December 15, 2016 - Assignment

Castellum sells parts of the old Norrporten holding for just over SEK 5,700 million

After Castellum's acquisition of Norrporten, the second-largest property deal in Sweden of all times, Castellum announced that divestments would be completed to finance the acquisition of Norrporten. To carry this out, Castellum has during the autumn for example sold a larger property portfolio divided into four transactions and at a total sales price of just over SEK 5,700 million.

The sales price for the first transaction was SEK 256 million, after deductions for costs and estimated deferred tax of SEK 13 million. The sale concerned four office properties in the centre of Östersund and covered approx. 18,700 sq.m. The buyer was Intea Fastigheter AB and the properties were vacated on 1 December 2016.

The sales price for the second transaction was SEK 486 million, after deductions for costs and estimated deferred tax of SEK 27 million. The sale concerns the office property Luleå Lejonet 11 covering approx. 21,800 sq.m. The buyer was Specialfastigheter Sverige Aktiebolag and the property was vacated on 15 December 2016.

The sales price for the third transaction was SEK 4,500 million, after deductions for estimated deferred tax of SEK 100 million. The sale concerns 10 properties in Sundsvall, 13 properties in Umeå and nine properties in Luleå. The buyer is Diös Fastigheter AB and the properties are planned to be vacated by 1 February 2017. Vacating is conditional on the rights issue being approved at an extraordinary general meeting with Diös and that the customary antitrust clearance of the sale is carried out by the Swedish Competition Authority.

The sales price for the fourth transaction was SEK 472 million, after deductions for costs and estimated deferred tax of SEK 19 million. The sale concerns four properties in Sundsvall and six properties in Östersund totalling approx. 48,000 sq.m. The buyer was NP3 Fastigheter and the properties are to be vacated by 31 March 2017.

Castellum is one of the largest listed property companies in Sweden. In the latest accounts, the value of the properties was SEK 74 billion and constitute offices/retail space and warehouses/industrial properties with a leasable area of 4.7 million sq.m.

Castellum was advised by Mannheimer Swartling in the transaction.