Logistea AB (publ) has entered into an agreement to acquire two light industrial properties in Finland for an agreed underlying property value of SEK 145 million. The two assets are fully let to Vianor Oy with a combined lettable area of 10,469 square meters and an annual rental income of approximately SEK 11.6 million. The leases have a remaining term of approximately 7 years.
Logistea is expanding its property portfolio in Finland and has signed an agreement to acquire two light industrial properties located in Tampere and Oulu through the acquisition of the respective property-owning companies. The assets are modern and functional built-to-suit car service and tire storage facilities constructed between 2008 and 2012, with strong micro-locations in established commercial and industrial areas with good accessibility. Closing is expected mid-August following fulfilment of an ongoing subdivision process.
The portfolio comprises a total lettable area of 10,469 square meters and is fully let to Vianor Oy with an annual rental income of approximately SEK 11.6 million. The tenant is responsible for all operating and maintenance costs.
"This acquisition strengthens our Finnish portfolio with two well-located light industrial assets offering stable cash flow with a large and well-established tenant. The properties add further diversification and quality to our growing Nordic portfolio, as we continue to see good investment opportunities across our markets," says Anders Nordvall, Deputy CEO and CIO at Logistea.
The transaction is financed with available funds.
For further information, please contact
Anders Nordvall, Deputy CEO & CIO
anders.nordvall@logistea.se
About Logistea AB (publ)
Logistea is a Swedish real estate company focusing on warehousing, logistic and light industrial properties. The company's shares are listed on Nasdaq Stockholm with the short name LOGI B. For more information: www.logistea.se
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