CITYCON OYJ Stock Exchange Release 15 Sept. 2005 at 8:15 a.m.
Citycon acquires three retail centres in Sweden
Citycon Oyj, a property investment company specialised in retail premises, has on
14 Sept. 2005 acquired three retail centres located in Åkermyntan, Kallhäll and
Fruängen in Stockholm Metropolitan Area, Sweden. The transaction is expected to
close on 1 Nov. 2005. Debt free purchase price of the properties amounted to SEK
256.3 million (EUR 27.6 million) and the annual net yield to 7.7 per cent at the
time of the signing. The transaction is in line with Citycon's growth strategy to
expand its business in Finland, Scandinavia and the Baltic countries.
Åkermyntan Kallhäll Fruängen
Leasable area, m² 8,383 3,418 14,544
whereof retail premises 70% 100% 56%
Anchor tenants ICA Supermarket Axfood/Hemköp COOP, Sabis and
and COOP Systembolaget
Occupancy rate 99.6% 100.0% 94.9%
The acquired properties are well established neighborhood shopping centres with
supermarkets as anchor tenants. The acquisition is in line with Citycon's growth
strategy and it will strengthen Citycon's position in Swedish real estate market.
Citycon is the market leader for shopping centre business in Finland. Citycon
owns a total of 18 shopping centres, 16 in Finland, one in Sweden and one in
In addition to shopping centres, Citycon owns 127 supermarkets and shops in
Finland. The fair value of the company's entire property portfolio on 30 June
2005 was EUR 754.7 million, of which shopping centres accounted for 60.9 per cent
and supermarkets and shops for 39.1 per cent.
Helsinki, 15 September 2005
Board of Directors
For further information, please contact:
Petri Olkinuora, CEO, tel. +358 9 6803 6738 or
+358 400 333 256
Helsinki Stock Exchange
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