Press release from Wihlborgs
Today Wihlborgs signed an agreement to sell 21 properties in Malmö encompassing a total of 124,000 m².
The properties are in Arlöv, Bulltofta and the port in Malmö, encompassing 24,000 m² of office space and 100,000 m² of logistics and production premises.
The sale is through a corporate wrapper with an underlying property value of SEK 1,430 million. As of end June the book value of the properties amounted to SEK 1,079 million. The rental value is SEK 110 million, average remaining lease term is 31 months and the properties are currently 92 percent let. The buyers are real estate funds managed by Blackstone and the portfolio will be incorporated in its pan-European last mile logistics platform, Mileway.
'We consider it positive that new actors are making major investments in Malmö. It is testament to the region's appeal and development potential and a clear sign that there is significant interest in long-term, stable rental flows,' says Ulrika Hallengren, CEO of Wihlborgs.
'Wihlborgs' strategy is to have a strong focus on attractive sub-areas with potential for development and these transactions contribute to that. Now we can put stronger focus on other areas where we have identified major opportunities for future development and value growth for us. Malmö has a diverse, growing economy with both service and production companies, and we see several interesting possibilities ahead of us.'
The following properties are included in the sale:
Arlöv 17:4, Finngrundet 4, Flintan 3, Flygledaren 9, Flygvärdinnan 5, Fältsippan 1, Gulsippan 4, Hanö 1, Höjdmätaren 1, Kirseberg 31:53, Skevrodret 2, Skjutstallslyckan 11, Spillepengshagen 1, Spillepengshagen 3, Spillepengsmarken 8, Stenshuvud 3, Stocken 2, Tågarp 16:19, Tågarp 16:42, Utgrunden 8 and Åkarp 1:69
The new owner will take possession of the properties on 1 December 2020.
Wihlborgs Fastigheter AB (publ)
To the press release