Logistea AB (publ) has today closed the transaction of two properties in Skövde. The properties have an underlying property value of SEK 79.4 million and a lettable area of approximately 5,100 square meters. Annual rental income amounts to SEK 5.1 million with an average remaining contract duration of approximately 14 years.
The properties (Kopparn 2 and part of Kopparn 3) are strategically located in Stallsiken retail area. The transaction is financed through an issue of 500,000 Class B shares in Logistea at a subscription price of SEK 30.00 per share, as well as bank loans and cash.
The properties have a total lettable area of 5,135 square meters. The largest tenant is Borgunda Bygghandel, which has signed a 15-year triple net agreement of approximately 2,900 square meters. The remaining space is rented by Autospa and Cramo. Annual rental income amounts to SEK 5.1 million (excluding supplements) with an average remaining contract duration of approximately 14 years.
– We have taken over two high-quality properties in a very attractive location with financially stable tenants, said 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 almost SEK 4.1 billion. The company's growth strategy is to build a property portfolio with strong cash flows in combination with a long average remaining contract period in well-located and growing logistics hubs in Sweden. Following the above acquisitions, the company owns 64 properties in Sweden with a lettable area of approximately 505,000 square meters, and a building rights portfolio of approximately 365,000 square meters.