Skanska divests three buildings at Linnaeus University in Kalmar, Sweden, for about SEK 1.1 billion
Skanska has divested three buildings at Linnaeus University in Kalmar, Sweden, to Intea Fastigheter. Skanska Commercial Property Development will book the revenue of about SEK 1.1 billion in the second quarter 2017. The transfer of the properties takes place when the tenant moves in late autumn 2018.
In connection with the transfer, Intea takes over the funding of the second phase of the project from Skanska, corresponding to an investment of about SEK 370M, and completes the project with Skanska Sweden as contractor. The underlying market value amounts to about SEK 1.4 billion in total.
At the beginning of 2016, Skanska signed a ten-year lease agreement with Linnaeus University and began the development and construction of the three new buildings, including underground parking. The buildings have a total gross area of 43,000 square meters and are located in the eastern part of the university area. In addition, Skanska is working on the extension of additional premises in the western part of the university area.
The construction of the first building is under way and occupancy in the new premises takes place in different stages, starting in the fourth quarter 2018. Prior to year-end 2020, all three new buildings will be completed.
Skanska is one of the leading development and construction companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential- and commercial property projects in select home markets. The commercial development stream is also active in Denmark. Skanska offers services in public-private partnerships. Skanska had sales of about SEK 67 billion and more than 15,000 employees in its Nordic operations during 2016.