Skanska sells properties for capital gain of SEK 1 billion
Skanska has sold properties in Stockholm, Gothenburg and Danderyd for a total of SEK 1.84 billion. The capital gain on the sale amounts to SEK 1 billion. The buyer is the AMF Pension fund.
May 2, 2000 Skanska sells properties for capital gain of SEK 1 billion Skanska has sold properties in Stockholm, Gothenburg and Danderyd for a total of SEK 1.84 billion. The capital gain on the sale amounts to SEK 1 billion. The buyer is the AMF Pension fund. The properties, all of which were developed and built or renovated by Skanska, offer modern and efficient facilities in good locations. All are completely developed and fully leased with long-term contracts. The Ceres block, in central Gothenburg, was developed by Skanska for the telecom company EHPT, Ericsson Hewlett Packard Telecommunications, which was able to occupy the 24,000 sq m facility in January of this year. The Trekanten block, in Danderyd, includes Skanska’s former head offices and an adjoining office building. The properties have total floor space of 35,000 sq m. The The larger of the two buildings has been extensively remodeled and is now leased by Intentia International. The Trumman block on Södermalm in Stockholm was built 10 years ago. The 40,000 sq m facility includes tenants such as American Express and SEB Kort. "The deal is good for all parties. Of course, we were happy to be able to show a sales gain of one billion in our project development. At the same time, I’m convinced that these properties will be very valuable to both AMF Pension and their tenants for a long time to come," says Mats Wäppling, head of Skanska Project Development and Real Estate. "We plan to sell additional fully developed properties this year." In total, Skanska Project Development and Real Estate has sold properties for SEK 3 billion this year, with a total gains amounting to SEK approximately 1.6 billion. Skanska is currently developing real estate projects in Sweden and Central Europe for about SEK 2.1 billion and plans to start additional projects for about SEK 1.5 billion. Moreover, Skansks owns about 700,000 sq. m. in unutilized building rights. ______________________________________________________________ For further information please contact: Mats Wäppling, head of Skanska Project Development and Properties, telephone: +46 8 753 8014 or +46 70 645 0321. Peter Wallin, Investor Relations, Skanska AB, tel +46 8 753 88 86