Landlord Oscar Properties Warns of Restructuring After Fire Sale

Swedish landlord Oscar Properties Holding AB is potentially heading for a painful restructuring in the wake of selling a portfolio of properties at a massive discount.

The troubled property group issued the warning after it sold a portfolio of properties for 2.2 billion kronor ($214 million) to repay lenders including DNB Bank ASA, according to astatementon Monday. The sale price corresponded to a discount of 27% compared to the value in the latest quarterly report.

In November, DNB seized the portfolio of 21 properties as collateral after the Stockholm-based landlord was unable to keep up with interest payments ...