Logistea AB (publ) has today signed a letter of intent regarding the acquisition of a newly built property in Enköping with an underlying property value of 300 MSEK. Annual rental income amounts to 14.4 MSEK. The transaction is financed through the issue of 250,000 A-shares and 4,295,455 B-shares in Logistea at a subscription price of 35.00 SEK and 32.88 SEK per share respectively and the remaining part is financed through bank loans.
Logistea has today signed a letter of intent regarding the acquisition of the property (Hagalund 1:30) which is expected to be completed in April 2022. The seller of the property is S.A Properties AB. The newly built property is located in an attractive logistics area along the E18 in Enköping (Annelund). The property consists of 15,049 square meters of lettable area.
The property is fully let to two tenants with an average rental period of 18.1 years. The company Bazar i Uppsala AB, which operates extensive wholesale operations in refrigeration and freezing warehousing, has signed a 20-year triple-net agreement. WAP Padel, part of international group LeDap, is the property's second tenant and has signed a 15-year triple-net agreement. Annual rental income amounts to 14.4 MSEK. Signing is expected to take place in mid-March 2022 and closing is planned to take place in mid-April 2022 after the property has been final inspected.
Logistea has an active acquisition strategy in relevant warehouse and logistics locations in Sweden. Today's letter of intent relates to Logistea's first acquisition in the Mälardalen region, close to Stockholm, Uppsala and Västerås, a region where we see potential for several acquisitions in the future, says Tobias Lövstedt, COO, Logistea.
Logistea intends to finance the purchase through set-off issue and bank loans. The set-off issue corresponds to 150 MSEK and the seller receives 250,000 A-shares and 4,295,455 B-shares in Logistea. The subscription price for the A-shares is 35.00 SEK and 32.88 SEK for the B-shares.