Listed Swedish property company Kungsleden said on Wednesday that it has concluded the sale of 22 commercial properties to Swedish-based Corem Property Group for a net price of SEK 460 mln (EUR 47 mln).

The deal was initially announced in December last year and was conditional on funding being arranged. Kungsleden said the transaction is now unconditional and was being concluded. The property yield amounts to approximately 7%

The portfolio consists of 22 warehouse and office properties located in western and central Sweden with a gross leasable area of about 81,300 m2.