Swedish commercial property company Corem Property Group has signed four separate letters of intent to sell properties at a total underlying property value of approximately SEK 12 billion (€1bn).
The properties are located in Sweden and Copenhagen, and consist mainly of office premises.
At agreed divestments, the first transfer of possession is expected to be made at the end of November 2023 while the last transfer of possession is expected to be made during April 2024.
”This is in line with the established strategy, where we utilise property transactions to strengthen our balance sheet and free up capital for redemption of our future bond maturities. It is therefore gratifying that we have succeeded in signing several letters of intent. It acts as proof that there is a functioning transaction market but also that we have an attractive portfolio regardless of economic trends. Combining the entered letters of intent with previously signed divestments, we have so far signed in excess of 25 different transaction agreements during the year, with a wide range of buyers and property types”, said Rutger Arnhult, VD på Corem.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
