Castellum divests two properties to the tenant Axis Communications. In addition, 18 smaller properties were sold earlier in the year. The sales prices amount to a total of SEK 2.3 billion. The sales prices are in line with book values.
“We are happy to be able to hand over well-managed properties to our tenant Axis Communications, which has been a priority recipient of our fully developed properties within Ideon Science Park in Lund. The divestment is in line with the communication to sell net in 2023 to strengthen the company’s financial position in a continued waiting capital market, says Joacim Sjöberg”, managing director of Castellum AB.
The properties sold to Axis Communications are Forskaren 2 and Stockholmsledet 8, which correspond to approximately 51,000 square meters. The largest tenant, Axis Communications, leases approximately 70 percent of the space. At Forskaren 2, there is an opportunity for further development.
“Castellum continues to see Lund as an important growth location with great opportunities in the future. Together with customers, the municipality, and other stakeholders, we will drive the development of our existing property portfolio, our early stages with building rights and cooperation within Lund Municipality”, says Ola Orsmark, regional CEO of Castellum Öresund.
“The transaction market is active in Castellum’s segment, but reaching closures takes a little longer. The sales prices confirm our book values,” says Kristina Sawjani, Chief Investment Officer at Castellum AB.
For More Information, Please Visit: Castellum AB website
(Feature Image: Axis HQ Lund by Axis Communication AB)