The property portfolio consists of 11 real estate assets with a total area of 25,200 m². All the properties are located in the capital area and include, among other things, a hotel, an embassy, a healthcare clinic, and office spaces. Key assets in the portfolio include Hverfisgata 103, which houses a 100‑room hotel; office premises at Borgartún 25; an embassy at Laufásvegur 31; retail and service premises at Bernhöftstorfa in downtown Reykjavík; the healthcare clinic in Glæsibær; along with other properties.
The purchase price of the properties is ISK 13,150 million, and the transaction is fully financed through the issuance of shares and bonds to the seller. The transaction is subject to certain conditions, including a technical and due‑diligence review of the properties, approval by the Competition Authority, amendments to the terms of the bond class FIF 13 01, and the approval of a final purchase agreement by a qualified majority of shareholders of FÍ Eignarhaldsfélag slhf. It is expected that all conditions will be met during the first quarter of 2026.
The purchase price will be paid partly through the issuance of new share capital in Kaldalón hf. and partly through the issuance of a new bond series, KALD 220437, with a nominal value of ISK 7,232.5 million.
FÍ Eignarhaldsfélag, the parent company of FÍ Fasteignafélag, is majority‑owned by Icelandic pension funds, which through this transaction will become shareholders in Kaldalón and will also be among the owners of bonds issued by the company.
The Corporate Finance division of Íslandsbanki oversaw the sales process, and legal advisory services were provided by BBA Legal.