STOCKHOLM, Sweden, Nov. 10, 2003 (PRIMEZONE) -- Skanska is selling the property Brahelund 2 phase 1, also known as HagaPorten, to a German fund-management company for SEK 1,260 M. The capital gain of SEK 290 M will be reported in the fourth quarter of 2003. The buyer will enter into possession of the property at the end of 2003.
The Brahelund property was acquired by Skanska Real Estate Stockholm in 1996 and the building was completed in 2001. The Skanska Group will retain its head office in the building. In conjunction with the divestment, Skanska has signed a ten-year lease agreement on market terms and conditions.
Skanska will remain the largest tenant in the building, with a contract for 33,400 square meters. The property has leasable floor space of 43,500 square meters, mainly comprising office premises.
"The divestment is in line with our strategy of selling fully developed projects," says Johan Bergman, Executive Vice President of Skanska AB.
During 2003, Skanska's project development operations in Sweden and Central Europe have sold properties totaling SEK 6.8 billion, at a combined capital gain of around SEK 2.2 billion. Ninety percent of the capital gain is from projects completed during the past five years.
Skanska Project Development Sweden focuses primarily on the initiation, development, management and sale of commercial property projects (offices, logistics and volume retail centers). The main emphasis is on Stockholm, Gothenburg and the Oresund region. Skanska Real Estate Stockholm is a subsidiary of Skanska Project Development Sweden. Jones Lang LaSalle has been advisor to the buyer for this acquisition.
Photos available at www.fastigheter.skanska.se/hagaporten
This and previous releases can also be found at www.skanska.com
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