Press Release Details

Diös Fastigheter in Real Estate Transaction with Riksbyggen and Kommunal

12/16/2015

Diös Fastigheter acquires three central located properties with an area of ​​14,260 square meters and sells eleven properties with an area of ​​39,800 square meters in a real estate transaction with Riksbyggen and Kommunal. The underlying property value of the acquisition amount to SEK 149 million and for the sale SEK 321 million. Change of possession will be on 30 December.

Of the acquired properties, two are located in Östersund and one in Umeå. Of the total area, 19 per cent are residential and 81 per cent are commercial. The three largest tenants are the Municipality of Östersund, Sportsgym in Östersund and Ramböll in Umeå. Full year rental income is SEK 16 million and the vacancy rate is negligible.

Of the sold properties, eight are located in Östersund and three in Umeå, and consists mainly of residential properties. Full year rental income is SEK 35 million and the vacancy rate is negligible.

The transaction takes form as company transaction and the underlying property value is in line with the most recent valuation. The results will be reported during the fourth quarter in 2015.

This is a strategic deal were we concentrate our property portfolio towards the city centres. It will make us more efficient and we can increase focus on local presence and service, says Knut Rost, CEO Diös Fastigheter.

Within Riksbyggen we have a clear objective to expand our portfolio of residential properties. Östersund is a city that we know well and believe in, says Carl-Johan Hansson, Head of the Real Estate business in Riksbyggen.