Altra Fastigheter to sell four properties for €105m

Swedish property company Altra Fastigheter has reached a conditional agreement to sell four properties for a total agreed property value of SEK 1.18 bn (€103.3 mln).

Carl Johan Hugner

This amount is before a SEK 40 mln (€3.5 mln) deduction for deferred tax. The sale is contingent upon the buyer, Storsala, finalising senior financing and receiving approval from the Swedish Inspectorate of Strategic Products.

The transaction is expected to have a slightly positive impact on Altra's earnings for 2026, though its forecasted profit from property management for that year will decrease by SEK 12 mln (€1.05 mln) once the deal is completed.

The properties involved are located in Nacka, Järfälla, and Stockholm, encompassing a total leasable area of 49,000 m². This space is primarily comprised of office and education premises. The portfolio currently boasts an economic occupancy rate of 86% and generates SEK 85 mln (€7.4 mln) in contracted annual rental income, with a remaining lease term of 3.3 years.

Structured as a share deal, the agreed property value is SEK 3.5 mln (€0.3 mln) below the carrying amount reported in Altra's most recent interim report. The closing of the transaction is anticipated during the third quarter of 2026, provided all conditions are met.

The purchase price will be settled through a cash payment of SEK 1.07 bn (€93.6 mln) and the issuance of a SEK 75 mln (€6.5 mln) promissory note, which will be repaid over 24 months.

Carl-Johan Hugner, CEO of Altra, said: "The transaction is strategically sound for both parties. Altra transfers four properties with future residential development potential to a specialised owner, while freeing up capital for new investments."