Logistea acquires land property next to highway E4

Logistea AB (publ) has today acquired a land property in Ödeshög of 40,000 sqm with an option for an additional 40,000 sqm.

Logistea is expanding its property portfolio and has today acquired a zoned land property in Ödeshög, Östergötland, Sweden, with the intention to develop approximately 50,000 square meters of warehouse and logistics buildings. The property (part of Åby 6:26) is strategically located with a strong communication location and good signboard location at the highway E4, between Jönköping and Linköping. The transaction includes a unilateral option for Logistea to acquire an additional 40,000 square meters of land adjacent to the acquired land.

"Logistea continues our growth journey towards the goal of reaching SEK 15 billion in property value by the end of 2024. With the acquisition, we estimate that we will be able to construct new warehouse and logistics properties of approximately 50,000 square meters," says Anders Nordvall, Deputy CEO and Head of Transactions, Logistea.

In two years, Logistea's property portfolio has grown from SEK 189 million in property value to approximately SEK 3,000 million. The company's growth strategy is to build a property portfolio with strong cash flows in combination with long average remaining contract time in well-located and growing logistics hubs in Sweden. Following the above acquisitions, the Company owns 48 properties in Sweden with a leasable area of approximately 370,000 square meters, as well as a building rights portfolio of approximately 365,000 square meters.