Logistea AB (publ) has today entered into an agreement reagrding the acquisition of the site leasehold to the property Busterud 1:161 in Karlstad and the property Skiffern 2 in Nybro (the “Properties”). The Properties has an underlying property value of MSEK 188.8 and a lettable area of approximately 24,200 sq.m. The annual rental income amounts to approximately MSEK 14.2 with an average remaining lease term of approximately 9 years.
Logistea increases its property portfolio and has today entered into agreement regarding the acquisition of the site leasehold to the property Busterus 1:161 in Karlstad (“Busterud”) and the property Skiffern 2 in Nybro (“Skiffern”) from Ilja Batljan Invest AB. Closing of the transaction is expected to take place on 31 January 2024.
The transaction is considered as a closely related transaction in accordance with Chapter 16 a in the Swedish Companies Act due to Sanja Batljan is part of the board of directors of Logistea and Ilija Batljan is the indirect owner of the acquired properties. Hence, the transaction is conditional upon the approval at an extraordinary general meeting in Logistea. Notice to the extraordinary general meeting will be given through a separate press release. Logistea has obtained voting commitments from larger shareholders corresponding to 51.3 percent of the capital and 53.8 percent of the total number of votes in Logistea.
Busterud was completed in 2020 and has a total lettable area of approximately 4,200 sq.m. The tenant is GDL AB which leases all areas within the property through a triple-net lease agreement with lease term until 2030-01-31. The annual rental income amounts to approximately MSEK 4.0 (excluding rent supplements and property tax).
Skiffern was completed in 2019 and has a total lettable area of approximately 20,000 sq.m. The tenant is Royal Design AB which leases all areas within the property through a triple-net lease agreement with a lease term until 2034-08-31. The annual rental income amounts to approximately MSEK 10.2 (excluding rent supplements and property tax).
The transaction is financed through a bank loan, own funds and through a seller promissory note amounting to MSEK 20.
We acquire two properties with newly produced high-quality buildings which was finalised in 2019 and 2020 in very good logistic locations and with good earning capacity via long-term leases signed with financially stable tenants, said Niklas Zuckerman, CEO Logistea