Wihlborgs strengthens presence in Denmark
Wihlborgs is strengthening its presence in Denmark through the acquisition of 15 properties comprising a total of 165,000 m².
Today Wihlborgs has signed an agreement with the pension company Danica to acquire 15 properties in the third quarter. The properties are mainly located in areas where Wihlborgs is already established, such as Herlev/Ballerup and Høje-Taastrup, but are also in areas including Ørestad and Hørsholm/Holte.
The purchase price amounts to DKK 1.8 billion. The annual rental income totals DKK 130 million per year with a vacancy rate of 9 percent and an initial investment yield of 6 percent. Possession will be taken in the third quarter of 2017 and be recognised in the accounts from 1 August. The main funding for the investment is through the Danish mortgage-credit system and is complemented by existing credit facilities.
The larger tenants include the Danish government, Føtex, Danske Bank, CGI, Konica Minolta and Gribskov Municipality.
“Denmark remains an interesting market due to its positive economic trend. This opportunity has now arisen to acquire a portfolio comprising modern office properties, largely located in areas where we are already established,” says Anders Jarl, CEO of Wihlborgs Fastigheter.
Over the last few years, Wihlborgs has considerably expanded its property portfolio. At the end of 2015, two larger properties totalling 110,000 m² were acquired and a further 13 properties with a total area of 100,000 m² were acquired in autumn 2016. Following this acquisition, Wihlborgs will have a property portfolio in Denmark of around 570,000 m² and valued at SEK 6.5 billion.
Wihlborgs Fastigheter AB (publ)
This information is of such a kind that Wihlborgs Fastigheter AB (publ) is legally required to disclose pursuant to the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication through the agency of the above contact people on 9 July 2017, at 14.30 p.m. CEST.
Wihlborgs Fastigheter AB (publ) is a property company that focuses on commercial properties in the Öresund region. Its property portfolio is located in Malmö, Helsingborg, Lund and Copenhagen.
In Malmö, Lund and Helsingborg, Wihlborgs is the leading property company.
The book value for the company’s properties totals SEK 33 billion. The annual rental value of the properties is SEK 2.4 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.