Wihlborgs has purchased 95 properties from Castellum for 13.3 billion kronor. The deal covers offices, retail premises, warehouses and light industry in Malmö, Lund and Helsingborg.
The transaction expands Wihlborgs property portfolio by 20 percent. The properties are located in Skåne and include Malmömässan, Studio-huset in Malmö, parts of Ideon in Lund and premises above Emporia in Hyllie.
Castellum is selling the portfolio at a 4 percent loss relative to book value. The company reports an annual yield of 4.7 percent and a vacancy rate of 15 percent. Castellum plans to distribute 60 percent of the proceeds to shareholders and use the rest to amortize debt.
Wihlborgs CEO Ulrika Hallengren sees potential in the 15 percent unlet space and reports a yield of 5 percent. The stock market initially lifted the Castellum share on Thursday while Wihlborgs shares fell. The trend reversed on Friday.
