Atrium Ljungberg sells four retail properties - Atrium Ljungberg

Atrium Ljungberg sells four retail properties

Today Atrium Ljungberg has concluded an agreement to divest the properties Igor 8 (Kvarteret Igor in Västerås), Månadsmötet 9 (Mittpunkten in Östersund), Rotundan 1 (Rotebro Handel in Sollentuna) and Orminge 47:1 (Orminge Centrum in Nacka). The four properties cover a total of 63,300 square metres lettable area with some hundred stores and restaurants.

Purchaser is a real estate investment company together with a local partner.

“The sale is taking place as a part of our work on concentrating the property portfolio to our prioritised markets in Stockholm, Uppsala, Malmö and Gothenburg. Through the sale we are releasing capital and resources for the continued development of our project portfolio and also for strategic acquisitions in these locations,” comments Atrium Ljungberg's CEO Ingalill Berglund.

The sale will take place through a divestment of shares. The purchase price is based on an underlying property value of approximately SEK 1.3 billion before deductions for deferred tax. The transaction will yield a profit after tax of approximately SEK 90 million within the Group and will be reported in the accounts for the third quarter of 2015.

The deal is conditional upon financing reservation.

The purchaser is expected to take possession of the properties on 1 October 2015.

JLL and Cederquist have advised Atrium Ljungberg in the sales process.

Nacka, 17/07/2015
Atrium Ljungberg AB (publ)

Press release 17-07-2015