Fabege has divested the Masugnen 7property in Ulvsunda, Stockholm. The buyer is JM. The divestment will be made in companies with an underlying property value of SEK 200m. Masugnen 7 currently comprises 11,000 sqm of commercial floor space. The property will be transferred to JM on 1 July 2013 and the buyer intends to construct housing on the property. The divestment will generate a profit after tax of SEK 93m, which will be recognized in the first quarter of 2013.
“Our core business comprises commercial properties in attractive areas. The divestment of the Masugnen 7 property is a good example of a property that is geographically outside our priority areas and can be converted for housing.” says Klaus Hansen Vikström, Director of Business Development at Fabege.
Fabege AB (publ)