Fabege acquires six properties for SEK 3.6 billion

Fabege AB (publ) has signed an agreement with CLS Holdings plc for the acquisition of CLS’ property portfolio in Solna Business Park for SEK 3,575 million. The agreement comprises six properties* with a total lettable area of about 157,000 sq.m. At the same time, Fabege is selling a property in Bochum, Germany, to CLS for SEK 160 million. The properties will be taken over by their new owners on 21 August. Solna Business Park, which is centrally located in the municipality of Solna, has had strong growth in recent years. Fabege already owns two properties in the area consisting of approximately 41,000 sq.m. Through the acquisition, a concentrated management unit is being formed consisting of eight properties where added value is being created through even better possibilities for effective management and refinement. After the acquisition, Faberge will own around 85 percent of the lettable area in Solna Business Park Major tenants in the properties acquired from CLS include ICA, Coop, EDB Business Partner, Green Cargo and Unilever. The average term of contracts is seven years. The occupancy rate is 93 per cent and the initial direct yield about 6 per cent. The divested property in Germany formed part of Tornet’s portfolio and has a lettable area of about 42,000 sq.m. The realised change in value amounts to SEK 10 million and will be reported during the third quarter 2006. “Through the acquisition we are further strengthening our market position in Solna. Fabege will now have 29 properties in Solna with a total lettable areas of about 490,000 sq.m.”, Erik Paulsson, Fabege’s CEO, comments. “Solna Business Park is today a very attractive area with excellent communications, and we will continue to develop the area and the Solna Business Park brand”, Erik Paulsson continues. Fabege AB (publ) For more information, please contact: Erik Paulsson, CEO, phone +46 (0)8-555 148 18, +46 (0)733-87 18 18 Olle Knaust, CFO, phone +46 (0)8-555 148 10, +46 (0)733-87 18 10 Mats Berg, Director of Communications and Investor Relations, phone +46 (0)8-555 148 20, +46 (0)733-87 18 20 * Fräsaren 11, Fräsaren 12, Smeden 1, Sliparen 1, Sliparen 2 och Yrket 3.

26 Jun 2006 9:08 AM

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