Skanska sells property in Gothenburg
Skanska is selling a newly developed industrial property in Gothenburg for SEK 96.5 M, with a sales gain of SEK 24 M. The buyer is the German Bavaria real estate fund. Skanska will continued to be responsible for providing facilities management services.
May 8, 2000 Skanska sells property in Gothenburg with gain totaling SEK 24 M Skanska is selling a newly developed industrial property in Gothenburg for SEK 96.5 M, with a sales gain of SEK 24 M. The buyer is the German Bavaria real estate fund. Skanska will continued to be responsible for providing facilities management services. The property in the Arendal area in Gothenburg is a logistics facility used by the Sweden Post subsidiary Säve Cargo Logistics. The 17,500 sq. m. building was opened for use at year-end after being developed and constructed by Skanska. Skanska is being contracted by Bavaria to be responsible for operations and maintenance as well as management of the property within its newly started operations Skanska Facilities Management. A ten-year contract has been signed. "Logistics facilities are one of the products, in addition to volume shopping centers and offices, on which we are focusing our product development," says Claes Larsson, President of Skanska Real Estate Gothenburg . "It is highly favorable that Skanska can offer a total solution through developing, constructing and now also assuming responsibility for continued service to the customer and tenants." To date this year, Skanska has sold properties for about SEK 3.3 billion, with capital gains totaling about SEK 1.7 billion. Skanska is currently developing real estate projects in Sweden and Central Europe for about SEK 2.5 billion and plans to start additional projects for about SEK 1.5 billion. Moreover, Skanska owns about 700,000 sq. m. in unutilized building rights. ______________________________________________________________ For further information please contact: Claes Larsson, President, Skanska Real Estate Gothenburg, tel +46 31 771 1101 or +46 70 581 1108 Peter Wallin, Head of Investor Relations, Skanska AB, tel +46 8 753 88 86