Kungsleden expands further in Germany

Swedish property company Kungsleden has bought a retirement home near Berlin for approximately SEK 150 mln (EUR 16.4 mln), the company said Friday. Located in Werder, some 25 km southwest of Berlin, the property has over 10,000 m[sup]2[/sup] of lettable floorspace and accommodation for 190 residents. The rental value is some SEK 11 mln, while the yield is 7%.

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