Klövern AB: Klövern acquires a property in Copenhagen for DKK 620 million

Klövern has acquired an office property in Frederiksberg, which is situated in the central part of Copenhagen, for an underlying property value amounting to DKK 620 million. The property, which has a lettable area of approximately 19,300 sq.m., and around 9,600 sq.m. of garage space, is fully let on a long contract with Copenhagen Business School (CBS) which runs until 2028. The rental value amounts to DKK 30 million per year. CBS is one of the largest business schools in Europe, with more than 20,000 students, and has conducted its operations on the property since 2004.

“It is very gratifying that Klövern enters the Danish property market. It is positive that we as a basis for our establishment in Copenhagen get exposure in the form of a centrally located high-quality property with a long lease contract with a very reputable tenant”, says Rutger Arnhult, CEO of Klövern.

The acquisition will primarily be financed with bank loans.

Transfer of possession is planned to take place on 1 February 2018.

Klövern AB (publ)

For additional information:
Rutger Arnhult, CEO, +46 (0)70-458 24 70, rutger.arnhult@klovern.se
Lars Norrby, IR, +46 (0)76-777 38 00, lars.norrby@klovern.se

Klövern is a real estate company committed to working closely with customers to offer them efficient premises in growth regions. Klövern is listed on Nasdaq Stockholm. For further information, see kelly.corem.se.

Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: +46 (0)10-482 70 00. E-mail: info@klovern.se.