Beskrivning
| Land | Norge |
|---|---|
| Sektor | Fastigheter |
| Industri | Förvaltning |
2023-05-08 08:17:00
Porsgrunn, 8 May 2023: Reference is made to the stock exchange announcement by
Recreate ASA ("Recreate" or the "Company") on 14 March 2023, where the Company
announced that it had entered into an agreement with XG Eiendom AS ("Xania")
regarding the establishment of a joint venture which shall own the group's
properties Arkaden, Nedre Hjellegate 11, Henrik Ibsens gate 6 and Recreate's
properties at Skien Brygge - all located in the Skien area - in addition to
Xania's property at Johan Follestads vei 7. In addition, the parties intend that
Kongensgate 20 and Hesselberggaten 4 shall be acquired at a later stage. The
property contributed by Xania has a net cash position and the joint venture will
therefore be financed to further develop the properties. The estimated loan to
value ratio of the joint venture is 52 per cent with approximately 86 per cent
of debt hedged at a fixed rate.
Recreate is pleased to confirm that the conditions for establishment of the
joint venture have been fulfilled. The parties will move forward with the
transaction as soon as possible and confirm as soon as closing has been
completed.
For further information, please contact:
Emil Eriksrød, CEO
emil.eriksrod@recreate.no
+47 415 22 463
Eirik Engaas, CFO
eirik.engaas@recreate.no
+47 934 99 340