Cibus Nordic Real Estate AB (publ) acquires property in Finland and announces strong pipeline of acquisitions on the company's main markets
Cibus Nordic Real Estate AB (publ) ("Cibus" or the "Company") has signed the acquisition of a newly constructed retail property in Kalajoki for EUR 12.4 million. The transaction is scheduled to close in December once the conditions precedent related to the acquisition have been fulfilled including the passing of a municipal appeal period related to the transaction. In addition to the transaction Cibus has a strong pipeline of potential acquisitions amounting to approximately EUR 120 million, which to a large extent concerns one potential acquisition in Finland.
Cibus is showing a strong performance despite current circumstances regarding Covid-19. The property to be acquired is located in Kalajoki, in the Oulu province, and was constructed in 2018 and is one of several ongoing acquisition processes. The lettable area is 9,400 sqm and the property is fully let with HalpaHalli and Tokmanni as anchor tenants. The weighted average remaining lease maturity is 8 years. Cibus sees a positive market situation and has, in addition to this transaction, a strong pipeline of different potential acquisitions in both of the Company's main markets amounting to approximately EUR 120 million, of which most individual acquisitions are smaller in nature but to a large extent concerns one potential acquisition in Finland.
"We have a strong financial position and an excellent pipeline regarding possible acquisitions, and this is one of the numerous ongoing acquisition processes", says Sverker Källgården, CEO of Cibus.
To this date, with the exception of the property in Kalajoki, no binding agreement has been entered into regarding the acquisitions and there are no guarantees that any acquisitions will be completed. Cibus is evaluating suitable financing arrangements taking into consideration, amongst other things, the target to keep the LTV below 65 per cent in accordance with the Company's finance policy.
For further information, please contact:
Sverker Källgården, CEO, Cibus Nordic Real Estate AB (publ), tel: +46 761 444 888
Pia-Lena Olofsson, CFO, Cibus Nordic Real Estate AB (publ), tel: +46 708 580 453
This information is information that Cibus Nordic Real Estate AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, by the contact person set out above, at 13:00 CET on 25 November 2020.
Cibus is a real estate company listed on Nasdaq First North Premier Growth Market in Stockholm. The company's business idea is to acquire, develop and manage high quality properties in the Nordics with daily goods store chains as anchor tenants. The company currently owns more than 280 properties in the Nordic. The main tenants are Kesko, Tokmanni, Coop and S-Group. FNCA Sweden AB, +46(0)8-528 00 399 [email protected], is appointed Certified Adviser.
Filer
Om Cibus
Cibus affärsidé är att förvärva, förädla och utveckla högkvalitativa fastigheter i Norden med välrenommerade livsmedelsbutiker och dagligvarukedjor som ankarhyresgäster för att kunna ge en stabil, konjunkturoberoende och ökande utdelning till våra aktieägare.
Prenumerera
Få löpande information från Cibus via e-post.