Corem divests €151m Swedish property portfolio to Castellum

Corem is divesting a portfolio of five properties in Linköping, Uppsala, and Örebro for SEK 1.7 bn (€151.3 mln) to Castellum.

Orebro Entre

The sale, planned for June 30, is part of Corem's strategic initiative to strengthen its balance sheet and increase geographical focus.
Key properties included in the sale are the recently developed Örebro Entré complex (18,800 m² of high-quality hotel and office space), the Brevduvan 17 office property in Linköping, and the Uppsala Gate properties (Kungsängen 10:1 and 10:2).
The portfolio has a total leasable area of approximately 46,100 m², a rental value of SEK 126.7 mln (€11.4 mln), and a 92% occupancy rate.
The properties, which boast a high standard thanks to recent upgrades, are located near city transport centres and are leased to reputable tenants such as Elite Hotels, Scandic, Swedbank, and government agencies.
This acquisition supports Castellum's growth strategy and its commitment to sustainability, with a significant portion of the properties being green-certified and two featuring solar panels.
Peeter Kinnunen, transaction manager at Corem, said: "This transaction is a good match for both parties. For Corem, the transaction means that we are able to divest developed buildings while also increasing our geographical concentration and freeing up capital to continue strengthening Corem financially."
Joacim Sjöberg, CEO of Castellum Aktiebolag, commented: "Our stable business and financial strength mean that we are ideally positioned to leverage emerging business opportunities. We are making long-term investments that are enhancing the quality and density of our portfolio. These are properties that contain modern and attractive premises in prime locations, in areas that are growing strongly and where Castellum wants to expand."
The deal is subject to approval from the Swedish Inspectorate of Strategic Products (ISP) under the Swedish Screening of Foreign Direct Investments Act, with clearance expected by the end of June 2025.