Real estate firm Catena has divested two properties in Kungsbacka and Linköping for a combined property value of approximately SEK 430 million, prior to deductions for deferred tax, according to a press release.
The properties in question, Varla 6:15 and Glasblåsaren 14, comprise a total of approximately 35,000 square meters of lettable area and generate an annual rental value of roughly SEK 33 million. The purchase price represents a premium of approximately 9 percent over the most recent valuation.
According to Catena, the disposals are part of the company's strategy to develop and streamline its portfolio toward modern logistics properties.
Transfer of possession is scheduled to take place during the second quarter.
Catena AB is a Sweden-based company engaged in the real estate sector. The Company specializes in the acquisition, management and development of properties and logistics facilities. Its assets comprise offices, warehouses, stores and cold storages. The Company operates primarily in three areas: Oresund, Goteborg and Stockholm. Furthermore, its project portfolio includes: Haga Norra, which is responsible for the construction of a city district with housing, offices and commercial premises in Solna Municipality; as well as Urban gardening, which develops food cultivation in cities and filtration pools that are located on buildings roofs. The Company's subsidiaries comprise Catena Logistik AB, Catena Byggnads AB, Catena Fastigheter AB, Catena i Stenungsund AB, Catena i Vinsta AB, Catena i Taby AB and Queenswall AB.
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