Logistea access a property in Mullsjö/Jönköping at a property value of 46 MSEK

Logistea AB (publ) has today taken possession of a property in Mullsjö/Jönköping that was acquired in December 2021. The property (Mullsjö Gyljeryd 1:43) is strategically located with proximity to the train station and good railway connections as well as highway 26, which is Sweden's longest national road (also called Inlandsvägen syd), and close to the E4. Leasable area amounts to approximately 5,900 square meters. In addition to the existing building, there is also developmental land area where it is estimated that it is possible to construct approximately 8,000 square meters of new leasable area. The current building is fully leased with an average remaining contract length of 15 years. Annual rental income amounts to MSEK 3.4 and net operating income to MSEK 3.2. The transaction is based on a property value of MSEK 46. Logistea finances the property purchase through directed new issues of 362,925 new B-shares and cash payment.

“The acquisition of the fully leased property in Mullsjö further strengthens Logistea's earnings and cash flow and at the same time strengthens our existing portfolio of warehouse and logistics properties in attractive growth regions," says Tobias Lövstedt, COO, Logistea.

Demand for warehouse and logistics facilities is significant and Logistea's growth has been strong since the first property was acquired at the end of 2019. The existing property portfolio as of December 31, 2021, additional acquisitions in 2022 and letters of intent entered into today amount to a total property value of MSEK 3,856, 509,458 square meters of lettable area and annual rental income corresponding to approximately MSEK 268.