Klövern AB (publ): Klövern acquires four properties in Copenhagen for DKK 735 million

6/7/2018, 1:33 PM (Source: GlobeNewswire)

Klövern has acquired four office properties in Copenhagen for an underlying property value of DKK 735 million, corresponding to around SEK 1,010 million. The properties have a total lettable area of around 36,600 sq.m. and are almost fully let. Among the largest tenants are the Municipality of Copenhagen, IBM, G4S, Nestlé, Regus and Q8. The rental value amounts to DKK 41 million per year, the economic occupancy rate is 99.7 per cent and the average remaining lease contract period is around 3 years.

"These four properties, with stable cash flows and of fine technical quality, complement our portfolio in Copenhagen in a great way. In total we now have around 86,000 sq.m. of high-quality commercial space which makes a good business unit. We believe that the office market in Copenhagen will have a good development going forward", says Rutger Arnhult, CEO of Klövern.

Transfer of possession is planned to take place on 4 July 2018 and the acquisition is intended to be primarily financed with bank loans.

Klövern AB (publ)

For additional information:
Rutger Arnhult, CEO, +46 70 458 24 70, rutger.arnhult@klovern.se
Lars Norrby, IR, +46 76 777 38 00, lars.norrby@klovern.se

Klövern is a real estate company committed to working closely with customers to offer them attractive premises in growth regions. Klövern is listed on Nasdaq Stockholm. For further information, see www.klovern.se.

Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: +46 10 482 70 00. E-mail: info@klovern.se.




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Source: Klövern AB (publ) via Globenewswire

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