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Kungsleden AB acquires senior housing in Germany.

NORDIC BUSINESS REPORT-13 June 2006-Kungsleden AB acquires senior housing in Germany(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish property company Kungsleden AB said on Tuesday (13 June) that it has agreed to acquire nine senior housing properties in Germany in a EUR74.3m deal.

The properties, comprising a total of 37,000 square metres, have been leased and operated by senior care company HEWAG Seniorstift GmbH since 1999. HEWAG Seniorstift will remain as the tenant on a 15-year lease.

One euro (EUR) is worth approximately 0.69 British pounds (GBP).

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Title Annotation:HEWAG Seniorstift GmbH
Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EUSW
Date:Jun 13, 2006
Words:106
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