SKEL fjárfestingafélag hf.: SKEL signs agreements for the purchase of 55 apartments at Stefnisvogur 2 and a call option to purchase 35 apartments at Stefnisvogur 12
23 September 2023 - 2:22AM
SKEL fjárfestingafélag hf.: SKEL signs agreements for the purchase
of 55 apartments at Stefnisvogur 2 and a call option to purchase 35
apartments at Stefnisvogur 12
Today SKEL signed a purchase agreement for 55
apartments, total 4,905sqm, at Stefnisvogur 12, 104 Reykjavík,
owned by Stefnisvogur 2 ehf. The purchase price is ISK
4,900,000,000. The apartments will be delivered before the end of
2023.
Parallel to signing the purchase agreement, an
agreement was made granting SKEL the call option to purchase 35
aparments, total 3,816 sqm, at Stefnisvogur 12, 104 Reykjavík,
owned by Stefnisvogur ehf. The call option purchase price is ISK
3,243,600,000. If SKEL exercises its option, the seller will
deliver the aparments before the end of 2024.
Part of the purchase price will be paid with the
transfer of shares and shareholder loans in Reir þróun ehf. at
booked value. On 30 June 2023, the book value of shares and
shareholder loans in Reir þróun was ISK 1,753,000,000. If the call
option is exercised, SKEL will have transferred all its shares in
Reir þróun. The purchase price will also be financed with a bank
loan and cash.
Upon delivery, SKEL will lease these
apartments.
Ásgeir Helgi Reykfjörð Gylfason, CEO of SKEL:
“SKEL has the experience and expertise in real estate, but 17% of
the company’s assets are in real estate and real estate
development. SKEL believes that there are opportunities in the real
estate markets, due to changes at large rental companies. Supply
has not met demand in recent years and the demand is growing year
by year. The apartments at Stefnisvogur 2 will be put up for
long-term rent.”
For further information, please contact Ásgeir Helgi Reykfjörð
Gylfason, fjarfestar@skel.is.
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