Logistea acquires a fully leased logistics asset in Stockholm from DSV in SEK 950 million sale-leaseback transaction

Logistea is expanding its property portfolio and has today entered into an agreement to acquire the two site leaseholds Stockholm Forsmark 2 and Stockholm Forsmark 3. The leasable area amount to approximately 54,000 sqm, which house a cross-dock terminal and a newly built parcel terminal of approximately 10,000 sqm. The annual rental income amounts to approximately SEK 72.5 million and the lease agreement is a triple net agreement, excluding the leasehold fees which are paid by the landlord and amount to SEK 5.8 million annually. The terminal is attractively located in Lunda's industrial area, Spånga, directly adjacent to the E18 motorway and the Stockholm Bypass. Closing will occur later today.

"This is our first acquisition in Stockholm and strengthens our portfolio with an attractive asset in one of Sweden's best logistics locations. The properties are leased on a long-term lease to a leading financially strong and global tenant with a long history in the property. Together with yesterday's announced acquisition in Denmark, we have during September acquired properties with a value of approximately SEK 1,960 million and total rental income of SEK 151 million. This results in significant earnings growth through long leases with two world-leading tenants in their respective industries, both of which will be among Logistea's largest tenants" says Anders Nordvall, Deputy CEO and CIO at Logistea.

The transaction is financed with bank loans and available funds.