November 8, 2022
"Despite greater uncertainty in the economic environment, Stendörren reported favorable operational performance with, for the seventh consecutive quarter, strong net letting, a sustained positive trend in our project development operation and the establishment of operations in the, for Stendörren, new Helsinki market.
In project development, we are particularly proud of that we signed a seven-year lease with gop Sverige AB for premises of 2,700 sqm in the soon to be completed approximately 5,800 sqm logistics building at the Viby 19:66 property in Brunna, Upplands-Bro. In addition, our proposed changes to the zoning, from industrial area to residential area, at the Skrubba 1:2 property in southern Stockholm with a view over the Lake Drevviken to the south, resulted in a positive decision from the municipality to start the rezoning process. We expect to create about 30,000 sqm building rights for residential use on the property.
Given the developments in the property and capital markets, we are also very pleased that we, at the end of last year and in the beginning of the year, reduced risk in the company by refinancing loans - which resulted in stronger liquidity and longer maturities - extended interest-rate hedging and hedged electricity prices at levels that are significantly lower than those currently applicable in the market. This means that we can be flexible in our priorities, with a good balance between operational progress and growth on the one hand and risk on the other."
Erik Ranje, CEO
For more information, please contact: Erik Ranje, CEO, +46 (0)70-308 52 09, email@example.com (firstname.lastname@example.org%20) orPer-Henrik Karlsson, CFO, +46 (0)72-158 70 92, email@example.com,or visit www.stendorren.se/en/
This information is information that Stendörren is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-08 07:00 CET.
Stendörren Fastigheter AB (publ)
Stendörren Fastigheter AB (publ) is an expansive property company listed on Nasdaq Stockholm Mid Cap. Our business concept is to create profitable growth in net asset value by managing, developing and acquiring properties and building rights within logistics, warehouse and light industry in Nordic growth regions. When commercially viable, we rezone such existing properties and thereby create residential building rights for further in-house development and management, mainly in Greater Stockholm and the rest of the Mälardalen region.
For more information about Stendörren Fastigheter AB (publ), see: http://www.stendorren.se/en/
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