The divestment is made in line with the previously communicated strategy of using strategic transactions as a tool to further strengthen the balance sheet, while at the same time increasing geographical concentration in the portfolio for efficient management.

In Örebro, Örebro Entré, consisting of the properties Olaus Petri 3:234 and 3:250, is divested. Between 2020 and 2024 Corem has carried out extensive new construction and renovation of the properties and after the development Örebro Entré consists of just over 18,800 sq.m. of high-quality space for both hotels and offices. Through this divestment Corem leaves Örebro which provides a geographical refinement of the property portfolio.

In Linköping, the centrally located office property Brevduvan 17 is being divested, while in Uppsala the properties Kungsängen 10:1 and 10:2, also referred to as Uppsala Gate, is being sold.

The total leasable area amounts to approximately 46,100 sq.m., consisting mainly of office and hotel premises. Rental value amounts to SEK 126.7 million and the economic occupancy rate is approximately 92 percent. The properties are planned to be transferred on 30 June 2025.

“This transaction is a good match for both parties. For Corem, the transaction means that we are able to divest developed buildings while also increasing our geographical concentration and freeing up capital to continue strengthening Corem financially,” says Peeter Kinnunen, Transaction Manager at Corem.

“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.

“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 at Castellum.

The transaction is conditional upon approval from the Inspectorate of Strategic Products, ISP, under the law on the review of Foreign Direct Investments in Sweden. Approval is expected to be obtained by the end of June 2025.