Swedish Logistic Property (SLP) has acquired and consolidated a fully let logistics property in Nyköping, Sweden, for SEK 440 mln (€39.3 mln).
The transaction is financed through secured bank financing and own funds.
Built in 1976, Arnö 4:1 comprises about 168,000 m2 and has a lettable area of about 55,000 m2.
The property is used as a central warehouse by the seller, Swedish car retailer Hedin Group.
The fully-indexed annual rent amounts to around SEK 28 mln (€2.5 mln).
Peter Strand, CEO of SLP, said: ‘We are very pleased to have acquired this property in an off-market-transaction as well as having signed a rental agreement with a stable and long-term tenant that will use the whole property. There are great opportunities to both refine the property, especially from a sustainable perspective, as well as carry through an expansion over time.’
In connection with the transaction, the Swedish real estate company signed a 10-year triple-net rental agreement with Hedin Parts & Logistics AB, a Hedin Group subsididary.