In Gothenburg CLS has bought a mixed residential and commercial portfolio in the Lövgärdet district. Constructed in 1971-1975, the estate consists of 1,282 apartments, with a total area of 855,532 sf, producing a gross rental income of SEK 53,444,000 ($5 million) per annum. In addition there is 359,926 sf of commercial property (including a school) which is fully let, mainly to Gothenburg council, on leases maturing in 2012-2014. These generate rental income of SEK 29,336,000 ($2.75 million) per annum.

CLS said that in recent years Gothenburg has enjoyed a strong and expanding economy, which is underpinning demand for residential accommodation.

The other acquisition is a fully let 52,247-sf mixed office and light industrial property comprising immediately next to CLS's Solna Business Park in Stockholm. The property produces SEK 5,100,000 ($480,000) per annum.

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