Logistea AB (publ) has today acquired a warehouse and logistics property in Falköping. The property has an underlying property value of SEK 53 million and a lettable area of approximately 9,800 sq.m. Annual rental income amounts to SEK 3.8 million with a weighted remaining rental period of 9 years.
Logistea is expanding its property portfolio and has today acquired and taken over a property in Falköping in Västergötland, Sweden. The property (Traversen 4) is strategically located with a strong communication location by the intersection of national highway 46 and national highway 47, with proximity to highways E20 and E4. The transaction is financed through an issue of 436,664 Class B shares in Logistea at a subscription price of SEK 33.00 per share, as well as bank loans and cash payments.
The property has a lettable area of approximately 9,800 square meters and a building right of 10,000 square meters. Anchor tenant is Partnerlogistik, which rents 9,200 square meters. The remaining 600 square meters are rented by the Swedish Board of Agriculture. Annual rental income amounts to SEK 3.8 million (excluding supplements) with a remaining contract duration of 10 years and 5 years, respectively.
“We are acquiring a property with financially stable tenants and good development potential with a building right of 10,000 sqm,” said Anders Nordvall, Vice President 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 period in well-located and growing logistics hubs in Sweden. Following the above acquisitions, the company owns 48 properties in Sweden with a lettable area of approximately 370,000 square meters, and a building rights portfolio of approximately 265,000 square meters.