Logistea AB (publ) has completed a directed new share issue of 195,314 Class B shares at a subscription price of 29.82 SEK per share. The issue constitutes partial financing of an investment property in the Gothenburg area that was acquired on June 18, 2021. The investment property is fully let and has a property value of approximately 34 MSEK and an average remaining contract period of approximately 13 years.
As communicated via press release on June 18, 2021, Logistea has signed an agreement with HanssonGruppen to acquire three properties, one investment property and two project properties, in the Gothenburg area with a combined property value of approximately 167 MSEK.
The investment property has an agreed property value of approximately 34 MSEK. As part of the acquisition financing of the investment property, Logistea has completed a directed new issue of 195,314 Class B shares at a subscription price of 29.82 SEK per share to the seller of the property. Other financing is made via bank loans and sellers' promissory note.
The two other properties have been acquired through forward-funding and are today project properties that are expected to be completed in the second half of 2022. The project properties are covered by a rental guarantee from the seller but have already a good rental rate.
Logistea intends to grow in warehouse and logistics properties in southern and central Sweden, where the Gothenburg area close to E6 and E20 is a logistics hub we focus on. The acquisition of the three properties in the Gothenburg area, which was made during the summer of 2021, therefore fits well into our growth strategy, says Tobias Lövstedt, COO Logistea.
Logistea's property portfolio has grown from 189 MSEK in property value to over 2,000 MSEK in two years’ time and today consists of investment properties with a high occupancy rate, modern and sustainable project properties and approximately 150,000 square meters of building rights. All properties are located in attractive logistics hubs close to Gothenburg, Jönköping, Örebro and Öresund area.