6 March 2015, Stockholm, Sweden | Corporate Finance | News
Catella in Stockholm acted as advisor to Unibail-Rodamco in the sale of the shopping centre Nova Lund. The shopping centre is located in Lund, Sweden. Buyer was TIAA Henderson real estate.
Summarized extract from Unibail-Rodamco's press release:
Unibail-Rodamco SE announces the disposal of Nova Lund to TIAA Henderson Real Estate
Unibail-Rodamco today entered into an agreement with TIAA Henderson Real Estate to sell Nova Lund Shopping Centre (Lund, Sweden) for a total acquisition cost* of SEK1,635 Mn (€176 Mn)** , representing a net initial yield*** of 5.5% and an average value per m2 of SEK63,155 (€6,791)2 . The transaction is subject to standard conditions precedent and is expected to close in Q3 2015.
Constructed in 2002, Nova Lund, a 25,889 m 2 shopping centre, is located in Lund (20 km northeast of Malmo), in the south of Sweden and attracts between 2-3 million visits per year.
For further information, please contact:
Investor Relations
Julie Coulot
+33 1 76 77 57 22
Media Relations
Pauline Duclos-Lenoir
+33 1 76 77 57 94
* Including transfer taxes and transaction costs.
** Using the exchange rate of 1 EUR = 9.3 SEK
*** Annualised contracted rent including indexation for the next 12 months, net of operating expenses, divided by the asset value.