D. Carnegie & Co Buys Property Portfolio in Norrköping

Regulatory News:

D. Carnegie & Co AB (publ) (STO: DCAR) - listed on Nasdaq Stockholm - has entered into an agreement to acquire seven properties in Norrköping through a company acquisition. The agreed underlying property value is SEK 261 million. The seller is Vissland Invest AB.

The acquired portfolio consists of 285 apartments with a total residential area of approximately

30,000 square metres. The properties are located in the Atrium area in the southern part of Norrköping and are located in close proximity to parts of Carnegie's existing property portfolio.

"There is great potential for good development and improvement of the purchased properties. Additionally, synergies are possible because the properties are located directly adjacent to our existing portfolio in Norrköping", says Ulf Nilsson, CEO of D. Carnegie & Co.

Carnegie plans to take possession of the properties in September this year.

About D. Carnegie & Co

D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the Bosystem renovation method. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to MSEK 11,700 on 31 March 2015 and the total rental value is estimated at MSEK 1,190 annually. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.

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