STOCKHOLM, Sweden, March 26, 2004 (PRIMEZONE) -- Tornet is selling a housing property with 237 apartments in the Majorna neighbourhood in south-west Gothenburg (Majorna 350:1).
The sales price is SEK 200 million, which exceeds the latest market valuation by more than 20 per cent. Tornet is making a capital gain of SEK 112 million.
More information about the properties sold and acquired is available on Tornet's website www.tornet.se under the heading Properties.
For further information, please contact: Sverker Lerheden, Managing Director, Fastighets AB Tornet, +46-8-544 905 00
Fastighets AB Tornet is one of Sweden's major listed property companies. Its Swedish holding has a lettable area of around 2.8 million square metres and a book value of over SEK 19 billion. Almost 97 per cent of the property holdings, measured as book value, are in Sweden and concentrated in Sweden's six largest cities and in Norrkoping and Karlstad. The properties are owned and managed by the subsidiaries ArosTornet, Malmstaden, MalarTornet, SkansTornet and Euro Tower.
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