Core Viewpoint - Kaldalón hf. has successfully signed a purchase agreement for all real estate assets owned by FÍ fasteignafélag, marking a significant expansion of its property portfolio in the Greater Reykjavík area [1][3]. Property Portfolio Details - The acquired portfolio consists of 11 properties with a total floor area of approximately 25,200 square meters, including a hotel, an embassy, a primary healthcare facility, and office premises [2]. - Key assets include a 100-room hotel at Hverfisgata 103, office premises at Borgartún 25, an embassy at Laufásvegur 31, and a healthcare facility in Glæsibær [2]. Financial Aspects of the Transaction - The total purchase price is ISK 13,150 million, financed through the issuance of equity and bonds [4]. - The transaction involves the delivery of 228,112,591 new shares in Kaldalón and bonds amounting to ISK 7,232.5 million, with bonds issued at a yield of 3.93% [4]. - The issue price of the new shares is based on an average trading price of ISK 25.94 per share over the last 10 trading days prior to the offer acceptance [4]. Conditions for Completion - Completion of the transaction is contingent upon satisfactory technical inspections, approval from the Icelandic Competition Authority, and necessary amendments to bond terms [5][6]. Expected Financial Impact - The estimated increase in Kaldalón's annual net operating income (NOI) from the acquired properties is approximately ISK 870 million, with a potential increase to ISK 960 million upon full leasing of one development asset [7]. - Following the transaction, Kaldalón's total property portfolio will expand to approximately 170,000 square meters, with operating revenues expected to increase by approximately ISK 1,050 million annually [9]. Strategic Comments - The CEO of Kaldalón expressed satisfaction with the acquisition, highlighting the central location and strong tenant base of the properties, and the intention to streamline the portfolio to enhance revenue [8]. - The Chairman of the Board of FÍ Eignarhaldsfélag noted the successful development of FÍ fasteignafélag and the milestone achieved through this transaction [9][10].