Swedish property company Drott has undertaken a SKr2bn sale and leaseback of 13 properties with telecoms company Ericsson. The deal reflects a yield of 11.6%.
Total rental revenues are SKr241m on the 400,000m2 portfolio, and the average lease term is six years. Ericsson companies will account for 85% of the rental revenue from the portfolio, and the telecoms company will now account for for 11% of Drott’s total rental revenues.
The acquisition increases Drott’s holdings in Kista by 54,000m2 to a total of 232,000m2 and includes development rights of 100,000m2.
