Citycon Finalizes Sale of Kista Galleria

The recent transaction by Citycon has led to it becoming the sole owner of Kista Galleria in Stockholm. The purchase was marked at a price of EUR 2.5 million. This also included Citycon taking on the responsibility for the seller’s share of the object’s debt.

Citycon has effectively executed this acquisition and is now the full owner of the Kista Galleria. This marks a significant milestone for the company.

Having managed the center since 2012 and owning 50 percent of it, Citycon has now stepped up to own the center in its entirety. The Kista Galleria had a debt of about SEK 2,400 million. The transaction meant that Citycon took over the seller’s share of the debt, which amounted to approximately SEK 1,200 million. The purchase price paid by Citycon was about EUR 2.5 million. As additional collateral for the new loan, two centers located in Sweden were provided.

“Kista Galleria, with its 15.5 million annual visitors, is one of Sweden’s largest and busiest malls. Its location in a fast-growing area in Stockholm, adjacent to the subway and a bus station, makes it a prime acquisition for Citycon. Our prior ownership and management experience with the mall gives us an intimate understanding of its operations. With our extensive expertise and full ownership of the center, we believe we can generate added value for our shareholders,” stated Citycon’s CEO F. Scott Ball in the company’s announcement.