Logistea AB (publ), has today acquired and accessed four industrial properties in Mjölby, Motala and Skänninge with a combined property value of approximately MSEK 135. Annual rental income amounts to approximately MSEK 11.2 and net operating income to MSEK 10.1.
Logistea expands its property portfolio in attractive communication locations along the European route E4 and has today acquired four properties in Mjölby, Motala and Skänninge from Grangatan Fastigheter AB. The properties (Transformatorn 2, Målaren 4, Hyveln 2 and Björkelund 2) have a combined leasable area of approximately 21,000 square meters and are fully let with an average remaining contract length of approximately six years. Annual rental income amounts to MSEK 11.2 and net operating income amounts to MSEK 10.1.
The transaction is based on a property value of MSEK 135. Logistea has also accessed the properties today, December 21, 2021, and the transaction is financed via a directed share issue with 1,175,856 new Class B-shares at a price of SEK 31.0 per share, bank loans and cash payment.
Logistea's acquisition of four fully leased properties in Mjölby, Motala and Skänninge with a total lettable space of approximately 21,000 square meters, is in line with our acquisition strategy to build a property portfolio with strong cash flows combined with long average remaining contract time in well-located and growing logistics hubs, says Tobias Lövstedt, COO, Logistea.
Logistea's property portfolio has grown from MSEK 189 in property value to over MSEK 2,000 in two years. After today's acquisition, the company's project portfolio amounts to approximately 346,000 square meters of lettable area, of which approximately 314,000 square meters consist of investment properties. In addition, there is a building rights portfolio of circa 160,000 square meters.
Colliers has acted adviser to the seller.