Åsane Storsenter and Torp Köpcentrum are sold

Steen & Strøm has today completed the sale of Åsane Storsenter in Bergen and Torp Köpcentrum in Uddevalla.
Steen & Strøm announces today the completion of the sale of two centres; Åsane Storsenter in Bergen (49.604 sqm) and Torp Köpcentrum in Uddevalla (31.600 sqm). The sale is based on a property value of MNOK 1,928 for Åsane Storsenter and MSEK 1,285 for Torp Köpcentrum.

The two centers were acquired by the Olav Thon Group.

These disposals are in line with Klépierre’s asset rotation strategy for optimizing its portfolio. The transaction also releases additional financial capacity for Steen & Strøm to fund the development projects in its pipeline and potential acquisitions in Scandinavia.

- We have previously stated that we have a strategy where we gradually change the composition of our shopping center portfolio. Steen & Strøm recently acquired Oslo City and has major development plans that will require considerable resources over the coming years. We are therefore glad to announce the agreement with Thon Group, which will be a competent and strong owner of Åsane Storsenter and Torp Köpcentrum. Steen & Strøm will use the proceeds from this sale to further develop our position as a leading shopping center player in Scandinavia, says CFO Bjørn Tjaum.

For future information:
Bjørn Tjaum                               CFO in Steen & Strøm                           Tel +47 97 08 01 85