On 5 May 2024 (Press release no. 7, 2024), Sagax announced that it had acquired 27% of a property portfolio in France comprising 43 properties with 285,000 square metres of lettable area and 902,000 square metres of freehold land. Sagax has today acquired an additional 43% interest in the portfolio.

The investment is made through acquisition of 43% of the shares in the property owning SPV. The investment represents a property acquisition of SEK 1,585 million.

Following today’s acquisition Sagax owns 70% of the SPV. The shares, which are unlisted, are acquired from a European insurance company.

The properties are fully let to Metro AG which uses the premises for wholesale operations in the HORECA segment. The average remaining lease term is 10 years. Metro AG has more than 90,000 employees and sales amounted to approximately SEK 350 billion in 2023.

The property portfolio is concentrated to the Paris, Lyon, Lille and Marseille regions. The annual rental income (excluding charges) amounts to the equivalent of SEK 270 million and is indexed to ILC, a standard index for commercial leases in France. The tenant is responsible for all operating and maintenance costs with the exception of the long-term maintenance of the properties.

For more information, please contact CEO David Mindus tel. +46 8 545 83 540.

About AB Sagax

AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax’s property holdings per 30 June 2024 amounted to 4,425,000 square metres, distributed over 918 properties. AB Sagax (publ) is listed on Nasdaq Stockholm, Large Cap. More information is available at www.sagax.se.

Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.