Castellum has signed an agreement with Alecta Fastigheter to divest two office properties in Stockholm, for a total underlying property value of SEK 5.0 Bn.
“We are divesting two properties following a structured sales process in which a large number of parties have shown interest. These are two modern and very high-quality properties in excellent locations in Stockholm. However, in our assessment, these properties will not generate a sufficiently high return for us in relation to the price we are now receiving, which is why we have chosen to sell. We are pleased to sell to Alecta Fastigheter, a well-reputed owner,” says Pål Ahlsén, CEO of Castellum AB.
The underlying property value in the transaction amounts to SEK 5,014 million, compared with a carrying amount of SEK 4,460 million as of 31 March 2026.
The estimated total earnings effect from the transaction amounts to approximately SEK 700 million. Of this, approximately SEK 550 million is expected to be recognised as changes in property values in the second quarter. In the third quarter, approximately SEK -250 million is expected to be recognised as changes in property values, approximately SEK -100 million as changes in value of goodwill and approximately SEK 500 million as deferred tax.
The properties’ total leasable area amounts to approximately 36,100 sq.m. As of 31 March 2026, the annual rental value amounted to SEK 237 million and the economic occupancy rate to 89.7 per cent. For the period January–March 2026, rental income amounted to SEK 52 million and net operating income to SEK 42 million, including operating costs of SEK 3 million, maintenance of SEK 1 million, property tax of SEK 6 million and property administration of SEK 1 million.
The transaction is subject to approval by the Swedish Competition Authority.
Closing is planned for 1 September 2026.
Approximately 60 per cent of the proceeds from the transaction are intended, in some form, to be distributed to shareholders, while the remaining approximately 40 per cent is intended to be used to reduce debt. This preserves the current loan-to-value ratio. The exact form of the capital distributed to shareholders will be determined by the Board of Directors and communicated at a later date.
The transaction in brief
Properties: Stockholm Isotopen 1 and Stockholm Klassföreståndaren 3.
Property type: Offices
Closing date: Planned for 1 September 2026
Rental value: SEK 237 million
Total leasable area: 36,100 sq.m.
Occupancy rate: 89.7%
For further information, please contact:
Pål Ahlsén, CEO, Castellum AB, +46 76 807 97 02
Christoffer Strömbäck, CFO, Castellum AB, +46 70 249 72 55