PR Newswire | Sep 28, 2021 02:59AM EDT

1.7 billion

09/28 01:58 CDT

Castellum sells a property portfolio to Oscar Properties for approximately SEK 1.7 billion GOTHENBURG, Sweden, Sept. 28, 2021

GOTHENBURG, Sweden, Sept. 28, 2021 /PRNewswire/ -- Castellum is selling 16 properties in Stockholm, resund, Norrkping and Vsters to Oscar Properties. The sale price is SEK 1.7 billion less overheads and deferred tax totalling approximately MSEK 95. The net price exceeds the most recent valuation by about MSEK 60. Furthermore, the sale resulted in an impairment of goodwill of approximately MSEK 20 and deferred tax income of approximately MSEK 170.

"The sale is in line with the company's strategy, and at the same time provides us with a cash injection that further strengthens our financial muscles for the proposed merger with Kungsleden," says Rutger Arnhult, Chairman of the Board of Castellum AB.

As a partial payment, Castellum will receive a block of shares corresponding to a maximum of MSEK 200 in Oscar Properties, entailing an ownership share of approximately 10% based on the latest available ownership list. The block of shares is regarded as a financial investment whereby Castellum receives shares at a level that is considered attractive in a company with an exciting growth strategy.

The transaction in briefSale price: SEK 1.7 billionClosing date:1 November 2021Rental value approximately MSEK 147/yearAverage contract duration: 3.1 yearsMajor tenant: Fingerprint Cards ABLettable area:115,600 sq. m.Economic occupancy rate:approximately 82%Properties:Stockholm: Altartorpet 22, Altartorpet 23, Arrendatorn 15, Arrendatorn 16, Ekplantan 4, Ekstubben 21 and 23, Ekstubben 25, Malm: Fullriggaren 4, Revolversvarvaren 10 (part of), Helsingborg: Grusgngen 2, Kavalleristen 9, Kroksabeln 18, Pilbgen 6, Pilbgen 6:2, Snrskogen 1, Norrkping: Proppen 2, Vsters: Jordlinan 2

For further information, please contact:Rutger Arnhult, Chairman of the Board, Castellum AB, +46 704-58 24 70Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61

About Castellum

Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 97 billion. We are active in attractive Swedish growth regions as well as in Copenhagen and the Helsinki area. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million square metres. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.

Beyond expectations.

www.castellum.se

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SOURCE Castellum