Prisma Properties acquires retail center with development potential in Gothenburg, Sweden, for SEK 365 Million

Prisma Properties (publ) has signed an agreement to acquire the properties Gamlestaden 61:12 and 61:13 in Gothenburg at an underlying property value of SEK 365 million, after deductions for latent taxes.

The properties comprise a total of approximately 13,000 square meters, with some of the largest tenants being Willys, Ö&B, Jysk, and McDonald's. The annual rental income amounts to approximately SEK 26.7 million, corresponding to an initial yield of around seven percent.

The properties have significant development potential, and Prisma plans to further improve the area and add more discount retail in 2025. The preliminary closing date is set for November 22, 2024.

In addition to project development, acquisition of attractive retail properties will be an important part of Prisma Properties' long-term growth plan to become the leading developer and long-term owner of discount retail properties in the Nordics.

CEO Fredrik Mässing comments:

"We are very pleased to establish ourselves in Gothenburg with this acquisition and take over a well-functioning and attractive retail center with great development potential. The properties and tenant mix align well with our focus on discount retail, and we look forward to further enhancing the area by attracting more tenants to the area," says Fredrik Mässing, CEO of Prisma Properties.

Prisma Properties' advisors have been TM Partners, JLL, and PwC, while the seller's advisor has been Catella.

For more information, please contact:

Fredrik Mässing, CEO Prisma Properties
+46 70-277 01 48
[email protected]