Klövern AB (publ)

Klövern acquires a property in New York for USD 36 million

Klövern has acquired a property in Manhattan, with the address 322-326 7th Ave, for an underlying property value of USD 36 million, corresponding to around SEK 320 million. The property, which is acquired in collaboration with the locally based property developer GDS Development, today has a total lettable area of around 2,300 sq.m.

"We continue to grow in New York together with partners with long experience and strong track record. The property is situated in the vincinity of the site leasehold we acquired earlier this year, which will have a positive effect on development and letting", says Rutger Arnhult, CEO of Klövern.

Transfer of possession of the property was on 24 July and the acquisition is financed with bank loans and equity.

Klövern AB (publ)

For additional information, please contact:

Rutger Arnhult, CEO, [phone], [e-mail]
Lars Norrby, IR, [phone], [e-mail]

Klövern is a real estate company committed to working closely with customers to offer them attractive premises in growth regions. Klövern is listed on Nasdaq Stockholm. For further information, see www.klovern.se. 

Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: [phone]. E-mail: [e-mail].

180725 Klövern acquires a property in New York for... (pdf)

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Source: Klövern AB (publ) via Globenewswire