Wihlborgs buys Baltzar City in Malmö
Wihlborgs has acquired the property S:t Jörgen 21, more known as Baltzar City, in the centre of Malmö. The vendor is Catella Real Estate AG KAG through the Nordic Cities Fund. The acquisition will take place in a company transaction and Wihlborgs’ valuation will be SEK 473 million.
Baltzar City is a landmark located at the junction of the pedestrian streets Södergatan and Baltzarsgatan. The rentable area covers 11,350 m² of which 7,800 m² office and 3,500 m² retail space. Vacancy is currently 4 per cent and the yield amounts to 5.25 per cent. The property comprises a 3,235 m² lot with freehold title. Possession will take place immediately.
”This modern office building (completed 2002) in Malmö City is a significant addition to Wihlborgs’ property stock”, says Anders Jarl, CEO of Wihlborgs. ”The acquisition means that we are strengthening our position as the leading property owner in Malmö”, concludes Anders Jarl.
Wihlborgs Fastigheter AB (publ)
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This information will be published on Thursday 27 September at 14:20.
Contact information
Anders Jarl, CEO, +46 (0)40-690 57 10, +46 (0)733-71 17 10
Christer Johansson, CFO, +46 (0)40-690 57 06, +46 (0)733-71 17 06
Iréne Johansson, Information manager, +46 (0)40-690 57 21, +46 (0)733-71 17 21