Hemfosa has signed an agreement to acquire 13 school properties, primarily in the Stockholm region, at a value of MSEK 444, with the exclusive option to sign an agreement in September 2016 to acquire a further two school properties at a value of MSEK 320. Through the acquisition, Hemfosa strengthens its position as a leading community service properties player in its largest market, Sweden. Turako Skolfastigheter AB is the seller.
Ten of the 13 properties are situated in Stockholm, two in Västerås and one in Lund. Nine of the properties are site leaseholds. Six of the properties are new builds, with one of the properties fully completed and five under construction. The leasable floor space amounts to approximately 16,000 square meters. The average lease extends for about 15 years, and the rental value amounts to approximately MSEK 29.8 per year. The two properties scheduled for acquisition are situated in Stockholm, have floor space of 9,150 square meters, an average lease of about 15 years and a rental value of 20.8 MSEK.
The leasing rate is 100 percent and the largest tenant is Academedia.
“I am pleased that we have been given the opportunity to complete this acquisition of good school and preschool properties with stable tenants and long leases. This is the perfect portfolio for Hemfosa. We are community service property specialists and we want to continue to grow in this segment in all three of our markets, Sweden, Norway and Finland,” says Stina Lindh Hök, Head of Transactions at Hemfosa.
Possession of the nine properties signed for today is expected to take place on June 15, 2016, and the remaining four properties will follow as they are completed. For the remaining two properties, an acquisition agreement is expected to be signed in September 2016 and possession is scheduled for 2017-09-01 and 2018-09-01.
For further information, please contact:
Stina Lindh Hök, Head of Transactions, [email protected], mobile +46 70 577 18 85, office +46 8 448 04 80