Castellum to acquire properties for SEK 1.7 Bn
Castellum has signed an agreement with Corem to acquire five properties at an underlying property value of SEK 1,740 M before deductions for deferred tax. The properties are situated in Uppsala, Örebro and Linköping.
With a stable balance sheet, low loan-to-value ratio and a recently upgraded credit rating by both Moody’s and S&P, Castellum is well positioned to continue its growth journey. In line with the company’s strategy, five properties are now being acquired that are located close to the existing portfolio and in designated growth regions.
“Our stable business and financial strength mean that we are ideally positioned to leverage emerging business opportunities. We are making long-term investments that are enhancing the quality and density of our portfolio. These are properties that contain modern and attractive premises in prime locations, in areas that are growing strongly and where Castellum wants to expand,” says Joacim Sjöberg, CEO of Castellum Aktiebolag.
All of the properties are located close to the transport centres of each city and maintain a high standard thanks to new construction work, extensive renovations and regular tenant adaptations. With these acquisitions, Castellum is strengthening its market position in each location, thereby streamlining its property management and creating even better tenant offerings.
The properties will also enhance the company’s sustainability profile by providing a higher share of green and environmentally certified buildings. Two of the properties are also equipped with solar panel installations with a total installed output of 169 kW.
“We had previously identified these properties as interesting objects in attractive locations, and we now have the opportunity to acquire them. The properties are already generating strong cash flows and have further potential,” says Kristina Sawjani, Chief Investment Officer, Castellum Aktiebolag.
The tenants include government authorities, large companies and hotel operators, for example, Elite Hotels, the County Administrative Board, Scandic, GlobalConnect, the Swedish Transport Administration and Swedbank.
The transaction is conditional on the approval of the Inspectorate of Strategic Products (ISP) in accordance with the Swedish Screening of Foreign Direct Investments Act. Approval is expected to be granted at the end of June 2025.
The transaction in brief
Properties: Örebro Olaus Petri 3:234, Örebro Olaus Petri 3:250, Uppsala Kungsängen 10:1, Uppsala Kungsängen 10:2, and Linköping Brevduvan 17.
Type of property: Office and hotel
Date of occupancy: 30 June 2025
Average contract duration: 7.1 years
Rental value: SEK 126.7 M
Leasable area: 46,078 sq. m.
Occupancy rate: 92%
For more information please contact:
Joacim Sjöberg, Chief Executive Officer, Castellum Aktiebolag, +46 8 503 052 00
Kristina Sawjani, Chief Investment Officer, Castellum Aktiebolag, +46 8 503 052 00
