The acquired portfolio consists of Umestan's business park and two other office properties with a total occupancy rate of 96 percent. The rental value amounts to EUR 11.95 million and the initial yield to 6.0 percent. The largest tenants are Sweco, AFRY, Nordic Biomarker, Umeå Municipality and the National Police Board, which account for 37 percent of the total rental value. The transaction is being carried out through the acquisition of existing companies with the usual deduction for deferred tax of 5.15 percent and is financed through new loans and existing funds.

With the deal, Lerstenen is divesting the majority of its commercial property portfolio and will focus on the development and management of rental housing in Umeå. They currently own 1.300 rental housing units in Umeå and have approximately 250 under development. The portfolio being divested is co-owned with the company Cinox in a minority.

In accordance with the mandate of the 2024 Annual General Meeting, Diös transfers 354.218 treasury shares to the seller in connection with the announcement of the acquisition at a price of SEK 67 per share. After the transfer, Diös holds no treasury shares. The purpose of the transaction is to assist the seller to effectively become a shareholder in Diös.

“The acquisition broadens our offering in Umeå and strengthens our position in northern Sweden's fastest growing market. We are increasing our management profit per share by approximately four percent, while at the same time seeing both economies of scale and good development potential in the portfolio. The transaction market has really started and we have several advanced discussions on both the sales and purchase sides. This type of acquisition opportunity rarely comes along, so we accept a temporary increase in the loan-to-value ratio,” says David Carlsson, CEO, Diös.

“This is a large and structurally important deal for us. We have owned Umestan for 13 years and are very satisfied and proud of how we have worked with the business park. Now we feel that we have found the right time, the right price and the right buyer for a deal, where all three points have been equally crucial. Diös is the perfect buyer and the right company to continue developing the properties. The fact that we are now becoming shareholders in Diös also feels right and we strongly believe in the commercial rental market in northern Sweden. We feel that the time is right for Lerstenen to focus on the development and management of housing and the capital we are now freeing up will primarily be invested in new housing in Umeå,” says Erik Sällström, CEO, Lerstenen.