Landic Property hf. has completed the sale of Landic Property II A/S portfolio (Magasin and Illum properties) to a consortium of investors including Straumur-Burdaras Investment Bank. The portfolio is comprised of 6 properties in Denmark. Five large retail department store facilities leased to Magasin and Illum and one warehouse used by the department store operation. The parties have agreed not to disclose the terms of the deal. Vidar Thorkelsson, CEO of Landic Property, says; “I am pleased that we have been able to close this deal and that these properties have now found a new platform which integrates the property portfolio and the retail operations. This sale is an important step in Landic Property´s restructuring path as the future focus will be in Iceland.” For further information please contact: Landic Property hf Vidar Thorkelsson, CEO Phone +354 575 9000 E-mail: vth@landicproperty.is