Logistea AB (publ) has today closed the transaction of a warehouse and logistics property in Hylte in Småland, acquired in March 2022. The property has an underlying property value of SEK 85 million and a lettable area of approximately 22,600 sq.m. Annual rental income amounts to SEK 8.6 million and the average remaining contract length is eight years.
Logistea is expanding its property portfolio and has today acquired a property in Hylte in Småland, Sweden. The property (Västra Åkralt 1:97) is strategically located in a well-connected location along national highway 26 between highways E4 and E6, and with proximity to Halmstad. The transaction is financed through an issue of 848,594 Class B shares in Logistea at a subscription price of SEK 33.00 per share, bank loan and cash payment.
The property has a lettable area of approximately 22,600 square meters. The anchor tenant in the property is Gnotec Sweden AB. Annual rental income amounts to SEK 8.6 million (excluding supplements) with an average remaining contract duration of eight years.
“The acquisition of this property in Hylte with strong earnings, strengthens Logistea's earning capacity and cash flow. It is an excellent complement to our existing property portfolio and is in line with our acquisition strategy to acquire properties with stable tenants and long remaining contract length,” said Tobias Lövstedt, COO, Logistea.
In two years, Logistea's property portfolio has increased from SEK 189 million in property value to approximately SEK 2,900 million. The company's growth strategy is to build a property portfolio with strong cash flows in combination with long average remaining contract periods in well-located and growing logistics hubs in Sweden. Following the above acquisition, the company owns 47 properties in Sweden with a lettable area of approximately 400,000 square meters, and a building rights portfolio of approximately 255,000 square meters.