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ARTICLES TAGGED WITH "Corem"

Prisma acquires property from Corem – strengthens presence in Norrköping

Sweden — Prisma Properties has signed an agreement to acquire the property Malmen 8 in Norrköping from Corem Property Group, at an underlying property value of approximately SEK 20 million (excluding deductions for deferred tax). The property is leased to MAX, Pizza Hut, and Preem, generating a total annual rental income of approximately SEK 1.2 million and a WAULT of 5.5 years.

"Many buyers and a strong capital inflow into the sector"

Sweden — Corem is continuing its divestment strategy and, following its latest sale, has now fully exited the Halmstad market. After saying farewell to Halland region’s largest city, the company is moving forward with efforts to optimize its balance sheet. Head of Transactions, Peeter Kinnunen, shares insights into the continued portfolio adjustments, upcoming sales, and the current state of the transaction market.

Corem divests five properties in Halmstad

Sweden — Corem has signed an agreement to divest a portfolio of five properties in Halmstad for a total underlying property value of SEK 290 million (EUR 27 million).

Corem attracts HQ to the Globen area

Sweden — Corem has signed a nine-year lease agreement with the fuel company Circle K for 2.038 square meters in the Arenan 2 property in the Globen area, Stockholm. Circle K is thus moving its Swedish headquarters to Corem's premises. The move is planned for January 2026.

Corem CEO: "The Ericsson property will leave the office market"

Sweden — Corem is a smaller company today than it was a couple of years ago, CEO Rutger Arnhult concludes when commenting on the results from 2024. They have divested significant parts of the property portfolio and will continue to do so. Not even the flagships are safe. He shares the plans for the Ericsson property, where the tenant left a big vacancy in H2.

Corem divests properties to Emilshus

Sweden — Corem has signed an agreement to divest a portfolio of eight properties in Halmstad at an underlying property value of SEK 520 million to Emilshus.

Corem has leased 100 percent of the area in the project property 28&7 in New York

Sweden — Corem has signed an additional lease contract, for 427 square meters to Angle Health, in the project property 28&7 in New York. The term is 5 years and moving-in is planned for the second quarter 2025. As a result, the property is fully leased at a total annual contract value of just over USD 9 million.

Corem signs five new lease contracts in New York

Sweden — Corem has signed an additional five new lease contracts for a total of 3,362 square meters in New York. As a result, Corem's total annual contract value for all signed leases in the US increases by approximately USD 3 million and thereby amounts to approximately USD 22 million and the occupancy rate in the project properties 1245 Broadway and 28&7 hereby amounts to 74 and 87 percent, respectively.

Corem acquires Helsinki property from Fennia Life

Finland — Fennia Life has sold a well-known medical center property to a fund managed by the French company Corum. Located at Raumantie 1a, Pihlajalinna Dextra Munkkivuori offers the most comprehensive private emergency services in the Helsinki metropolitan area, including pediatric emergency care, accident and emergency care, and general practitioner services.

Corem divests in Borås

Sweden — Corem sells property in Borås to Järngrinden for SEK 320 million (EUR 27 million).

Corem CEO has faith in debated Stockholm area

Sweden — Corem recently presented its third quarterly report for 2024. CEO Rutger Arnhult placed a lot of focus on Kista and the news reporting that presented a demanding rental situation in the district, which has as vacancy rate of around 20 percent according to Newsec.

Corem divests in Sigtuna and Stockholm

Sweden — In two separate deals, Corem has signed an agreement for the sale of three properties in Sigtuna and a site leasehold in Stockholm for a total underlying property value of SEK 100 million (EUR 9.1 million), which is in line with book value.

Corem signs lease of 6,000 sqm in Kista

Sweden — Corem has signed a five-year lease agreement with the Swedish technology company Mycronic for 6,038 square meters in the property Helgafjäll 5 in Kista north of Stockholm city. The property is located in central Kista by the square next to the Kista fair.

Corem signs new lease in Kista

Sweden — Corem has signed a three-year lease agreement with the global outsourcing company Transcom regarding a 1,067 square meter office space in the property Borgarfjord 4 in Kista, Stockholm. Access is planned for the first quarter of 2025.

Corem signs new lease in Manhattan building

Sweden — Corem signs lease contract in New York with Swedish Epidemic Sound.

Corem signs lease contract in New York

Sweden — Corem has signed an additional new lease contract for a total of 807 sqm at the project property 28&7 in New York. The tenant Injective Labs, active in fintech, will move in in the first quarter of 2025 and the lease term is five years. With the signing of this lease, Corem's total annual contract value for all signed lease contracts in the US amounts to approximately USD 18 million and the occupancy rate in 28&7 amounts to 73 percent.

Corem strengthens the balance sheet by 93 million

Sweden — The real estate company Corem Property strengthens its balance sheet by carrying out a directed new issue of SEK 1.020 million, approximately EUR 92.93 million. The subscription price is SEK 9.60 kronor, EUR 0.87, per B share. This is stated in a press release.

Arnhult: "Corem still have properties worth a few billions for sale"

Sweden — Rutger Arnhult states that the challenges that Corem had a year ago have now been significantly mitigated and with more rate cuts on the way, he sees a brighter future for both Corem and the sector as a whole. During the company's report presentation on Friday, he highlighted the improved figures during Q2, how the average interest rate for the company has now reached its peak and why there is less pressure to sell as many properties as last year.

Corem has signed a six-year lease with the Swedish Coast Guard

Sweden — Corem has signed a six-year lease with the Swedish Coast Guard for approximately 3,500 square meters in Gothenburg.

Verdion makes new Gothenburg acquisition

Sweden — Verdion buys a 44,000 square meter property in the Backa district of Gothenburg from Corem.

Corem divests in Kalmar and Västerås

Sweden — Corem divest properties in Västerås and Kalmar for SEK 107 million (EUR 9.5 million).

Arnhult joyful over the net rental and the bond market

Sweden — Corem's CEO Rutger Arnhult sees the net rental of 49 million as the most positive thing about the company's first quarter and sees the turnaround in the bond market as "incredibly positive". At the same time, the vacancy rate has increased further and is now at 14 percent. Here he tells more about the company's path forward and how the company views projects and acquisitions going forward.

Emilshus buys portfolio from Corem

Sweden — Corem divests 19 properties in Jönköping, Huddinge and Linköping for SEK 768 million to Emilshus.

Corem signs two lease contracts in New York

Sweden — Corem has signed two additional new lease contracts for a total of 1 234 sqm at the project property 28&7 in New York. The tenants, Chenel Capital and Superstate are both investment firms. Chenel Capital will move in on 807 sqm during the fourth quarter of 2024 and the lease term is five years. Superstate moved in on 427 sqm in the beginning of March and their lease term is three years.

"We will probably sell for another EUR 85–170 million in 2024"

Nordic — During the fourth quarter of 2023, Corem continued on the same track they had during the whole year with sales of properties at a rate that can hardly be compared with any other company on the Swedish market. CEO Rutger Arnhult describes one of these deals as the worst in his entire life. At the same time, he predicts that sales will continue in the billions range.