Castellum to sell car dealerships in Stockholm for SEK 347 M

Castellum is selling the Visiret 2 property in the Smista district, in southern Stockholm, to Nordisk Renting. The total sale price is SEK 347 M less overheads and deferred tax totalling approximately SEK 13 M. The sale price confirms the carrying amount.

“Even after this sale, Castellum is a major player in Smista with several strategically located properties along the E4 motorway south of Stockholm. This transaction creates turnover in the portfolio and provides us with an opportunity to make other investments that will provide good yields,” says Sven Stork, Managing Director of Region Stockholm, Castellum AB.

The Visiret 2 property comprises three buildings, where DinBil, retailer of brands including Porsche and Audi, is the largest tenant.

“It is gratifying to now see increased activity in the transaction market compared with this past autumn. The sale will now allow us to invest further in our existing properties. The sale price has confirmed our carrying amounts,” says Kristina Sawjani, Chief Investment Officer at Castellum AB.

The transaction in brief
Properties: Visiret 2
Closing date: 18 April 2024
Average contract duration: 5 years
Rental value: SEK 25 M
Total leasable area: 7,919 sq. m. (excluding a parking garage of approximately 12,000 sq. m.)
Average occupancy rate: 100%


For further information, please contact:
Sven Stork, Regional Managing Director Castellum AB, [phone]
Kristina Sawjani, Chief Investment Officer, Castellum AB, [phone]
[e-mail]

About Castellum
Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 31 December 2023, the property value totalled approximately SEK 160 Bn, including the ownership share of the Norwegian company Entra ASA. We are active in attractive Nordic growth regions. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap and is classified as green according to Green Equity Designation.
 
Beyond expectations.
www.castellum.com

Image Attachments
Sven Stork Castellum
Kristina Sawjani Castellum

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Castellum to sell car dealerships in Stockholm for SEK 347 M

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