Castellum divests portfolio in Gävle for $245m

Castellum has divested 12 properties in Gävle, Sweden, to Fastighets AB Regio for SEK 2.3 billion (€217 million/$245 million).

The properties have approximately 107,000 square meters (1.2 million square feet) of lettable area. About 85 percent of the tenants are state agencies and include the Swedish Police Authority (Polismyndigheten), the Swedish Prison and Probation Service (Kriminalvården) and the Swedish Mapping, Cadastral and Land Registration Authority (Lantmäteriet).

“We are pleased to be able to transfer a portfolio of this quality to a long-term and stable party such as Regio, who will take over development and property management, moreover with the same fantastic local organization. At the same time, the sale reinforces our financial position following the combination with Kungsleden and facilitates further investments and new production for our important clients,” said Rutger Arnhult, CEO of Castellum AB.