Daily News: August 16, 2013

Swedish Property Management Co Signs MOU with GE Capital RE

Kungsleden, an owner/manager of commercial properties in Sweden, said it has signed a memorandum of understanding with GE Capital Real Estate to acquire 84 commercial properties with an underlying property value of approximately SEK 5.5 billion ($840 million). The properties are mostly office buildings and are largely situated in Stockholm and Gothenburg.

“This property portfolio has a profile which fits very well into Kungsleden´s new strategy which focuses on offices, industrial/warehouse and retail properties in big city areas and other growth regions in Sweden. We will now enter a customary due diligence phase, said Biljana Pehrsson, member of the board and incoming CEO of Kungsleden.