Fabege sells two properties for SEK 3.4bn to Nrep

Fabege has signed an agreement with Nrep to sell the properties Orgeln 7 in Sundbyberg and Glädjen 12, Stadshagen, in a transaction worth SEK 3.4bn. The properties will be taken over by the buyer in early October.

The underlying property value is consistent with the most recent valuation. After deducting sales costs, the transaction results in a recognised gain of SEK -13m before tax and SEK 414m after reversal of deferred tax. This will be recognised on the completion date.

The two properties are completed, largely fully let and both are located outside Fabege’s priority districts. The sale is part of Fabege’s continued concentration on selected expansive market areas such as Solna and Flemingsberg, where we currently have several significant office projects under production. The transaction also further strengthens Fabege’s balance sheet and provides scope for continued investment in our urban development projects.

Orgeln 7, which is a freehold property, has a lettable area of 39,200 sqm. The property was completely renovated and extended in 2016–2018 and is let to Swedbank and the Swedish Migration Agency. It is certified to BREEAM-SE standard, Excellent.

Glädjen 12 is a leasehold with a lettable area of 10,800 sqm. The property has recently undergone a complete refurbishment and tenants include CGI, Electrolux Professional Group and Elgiganten. It is certified to BREEAM-SE standard, Excellent.

Savills and the law firm Born have acted as advisors to Fabege.

-          “The sale is a natural part of our business model. The properties are located outside our strategic urban development areas and the transaction also further strengthens our balance sheet. We are currently investing for the future in several ongoing projects, including Flemingsberg and Haga Norra,” said Stefan Dahlbo, CEO of Fabege.

Fabege AB (publ)
 

This information is information that Fabege AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information was submitted for publication, through the agency of the contact person set out above, at 2023-07-20  13.00 CET.