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2016-11-22

Castellum: Castellum sells properties for a total of SEKm 4,500 in Sundsvall, Umeå and Luleå

Castellum has completed a sale of 10 properties in Sundsvall, 13 in
Umeå and 9 in Luleå.

The selling price totalled SEKm 4,500, after deduction for assessed
deferred tax of approx. SEKm 100. The price exceeded the latest
property valuation by 8% and the acquisition price in the Norrporten
transaction last spring by 16%. Final economic results will also be
affected by transaction costs of approx. SEKm 30, as well as reversed
goodwill of SEKm 320 and deferred tax income of SEKm 350. The
transaction was carried out with a yield of 5.1% on current net
operating income, after Castellum's administration costs.

Purchaser is Diös and the change of possession will take place on
February 1st, 2017.

The transaction is conditional on shareholder approval of a rights
issue, as determined by a Diös Extraordinary General Meeting. The
transaction will also require a usual approval by the Swedish
Competition Authority. Castellum holds guarantees from major
shareholders in Diös - representing approx. 36% of Diös equity - of
their intention to sign over their pro-rata shares in the rights
issue. Nordea and Swedbank will guarantee the remaining amount,
according to customary conditions.

The portfolio now being sold primarily comprises offices/retail stores
and a number of residences. Area totals approx. 216,000 sq.m,
distributed over 10 properties in Sundsvall (approx. 53,000 sq.m.),
13 properties in Umeå (approx. 87,000 sq.m.) and 9 properties in
Luleå (approx. 76,000 sq.m.). This divestment means that Castellum is
further concentrating holdings, thereby withdrawing from the Umeå
market, retaining one building in Luleå, in the short term, and
reducing real estate area in Sundsvall by approximately one quarter.
In total, the divestment amounts to 15% of the real estate portfolio
acquired in the Norrporten transaction.

Total rental value adds up to approx. SEKm 360, and net operating
income totals approx. SEKm 230 (including admin costs). Major tenants
include the Courts of Sweden, Skandia insurance company and the
Swedish Transport Administration. The economic occupancy rate totals
approx. 93% and average contract length is 4.5 years.

Via this transaction, Castellum continues the process of carrying out
the pledge made after the Norrporten acquisition last spring: to sell
SEK 4 billion worth of properties, as part of the financing strategy.
Earlier this autumn, Castellum divested properties worth SEK 1.2
billion.

"This deal means that we're concentrating operations to fewer
geographical locations - thereby increasing the density of our
holdings", says Henrik Saxborn, Castellum CEO, adding that the
portfolio currently being sold has attracted a lot of interest.

"In line with our long-term strategy", Saxborn continues, "Castellum
will continue to grow and increase the quality and density of our
holdings through selected real estate projects, as well as
acquisitions."

Properties included in the transaction:
Sundsvall: Aesculapius 10, Badhuset 1, Bryggeriet 1, Cupido 7,
Järnvägsstationen 1, Skandia 1, Stenhuggaren 5, Vesta 1, Vesta 3 and
Ödet 7.

Umeå: Ask 5, Björken 1, Hugin 4, Kraften 12, Läraren 1, Magne 4,
Nytorget 2, Odin 12, Skvadronen 2, Slöjdaren 3, Sågen 5, Vipan 24 and
Älvsbacka 9, 10.

Luleå: Biet 1, Forellen 9, Gripen 1, Hermelinen 12, Hunden 15, Katten
14, Råttan 17, Strutsen 14 and Östermalm 6:16.

This information is information that Castellum AB is obliged to make
public pursuant to the Securities Markets Act. The information was
submitted for publication at 8 am CET on November 22, 2016.

For additional information, please contact:
Henrik Saxborn, CEO, Phone +46-31-60 74 50
Ulrika Danielsson, CFO, Phone +46-31-60 74 74

www.castellum.se

Castellum is one of the major listed real estate companies in Sweden.
The fair value of the real estate portfolio amounts to approx. SEK 74
billion, and comprises of commercial properties for office, retail,
warehouse and industrial with a total lettable area of approx. 4.7
million sq.m.

Castellum own and manage properties through one common brand in five
geographical regions with strong local presence. The five
geographical regions are: Central, North, Stockholm, West and
Öresund.

In 2016, Castellum sustainability performance was awarded two top
distinctions: First Prize for sustainability reporting in Europe from
EPRA and Global Sector Leader, handed out by GRESB which means that
Castellum is ranked first in the world within the office- and
industrial-properties sector. Further Castellum has been selected as
an index component of the Dow Jones Sustainability Indices (DJSI),
which includes the companies in all industries in the world with best
performance in terms of sustainability.

The Castellum share is listed on Nasdaq Stockholm Large Cap.

Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Org nr/Corp Id
no SE 556475-5550 | Phone +46 31 60 74 00 Fax +46 31 13 17 55

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http://news.cision.com/castellum/r/castellum-sells-properties-for-a-tota...
http://mb.cision.com/Main/8364/2128040/593460.pdf

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