Heimar hf. Completes Sale of Five Properties
Heimar hf., often referred to simply as Heimar, recently marked an important milestone by finalizing the sale of five properties. The company has accepted a competitive offer from Módelhús ehf. and has entered into binding purchase agreements.
Details of the Property Sale
The agreements were signed today, paving the way for a smooth property transfer set to take place at the start of November. This strategic move involves established locations, including Eyrartröð 2a, Norðurhella 10, and Reykjavíkurvegur 74 in Hafnarfjörður, along with Vatnagörðum 6 and Vatnagörðum 8 in Reykjavík. Collectively, these properties cover an extensive area of 8,962 square meters.
Financial Implications and Future Plans
The total sale price for these assets amounts to ISK 3,275 million, indicating a promising outcome for Heimar's financial portfolio. Following the transaction, the anticipated profit from this sale is projected to be approximately ISK 351 million. Furthermore, the properties have been generating an annual rental income close to ISK 250 million, reflecting their value and potential for ongoing returns.
Allocating Funds for Growth
The proceeds acquired from the sale will be reinvested in accordance with Heimar’s investment strategy, aimed at furthering the company’s growth and operational drive. This move aligns with their objective of enhancing property holdings that are both profitable and strategically relevant to their future.
Advisory Support for the Transaction
To ensure a seamless transaction, Heimar has engaged Íslandsbanki Corporate Advisory as their advisor. The advisory partnership has been vital in navigating the complexities associated with such significant real estate dealings.
Contact Information
For any inquiries regarding this transaction or other company news, Halldór Benjamín Þorbergsson can be contacted at +354 821-0001.
Frequently Asked Questions
What properties did Heimar hf. sell?
Heimar hf. sold five properties located in Hafnarfjörður and Reykjavík, covering a total area of 8,962 square meters.
What was the sale price of the properties?
The total sale price for the properties was ISK 3,275 million.
How much profit is Heimar hf. expecting from this sale?
The expected profit from this sale is approximately ISK 351 million.
What will Heimar hf. do with the proceeds from the sale?
The proceeds from the sale will be reinvested in line with the company’s investment strategy to foster growth.
Who advised Heimar hf. during this transaction?
Íslandsbanki Corporate Advisory served as the advisory support during the property sale.
