SEB Group Completes EUR 185 Million Sale Leaseback of 54 Properties in the Baltics

CNW Group - December 28, 2007

Homburg Invest Inc. announces that it has finalized its acquisition of the “Baltic” portfolio consisting of 54 properties located in Estonia, Latvia and Lithuania (the “Baltic’s”) from SEB Group (“SEB”). The transaction was previously announced on April 26, 2007, when SEB and Homburg Invest entered into an agreement to acquire the Baltic portfolio. Due to the exercise of pre-emptive rights by third parties for certain of the properties, the acquired portfolio consists of 54 properties instead of the original 63 properties previously announced. With respect to the properties, 39 are occupied by SEB under long-term leases and 15 properties are primarily leased to other tenants or have short-term leases with SEB.

The transaction was completed at an aggregate purchase price of approximately CAD 268,250,000 (EURO 185,000,000) with a long-term debt financing of CAD 194,100,000 (EURO 134,000,000) from SEB Merchant Bank with the remainder of the purchase price being paid in cash. Sphere: Related Content