Logistea acquires logistics property in Sweden for €30m

Swedish real estate company Logistea has acquired a logistics property in Kalmar, Sweden from M2 Asset Management for SEK 340 mln (€30 mln).

Sigillet 1 was completed in 2022 and has a lettable area of approximately 35,300 m2. The asset is fully leased to Nordic Nest AB. The annual rent is SEK 25.2 mln (€2.2 mln) with an average remaining lease period of 8.5 years.

Logistea will finance the acquisition through a directed share issue to M2 Asset Management, as well as loans and own funds. Following the share issue, M2 Asset Management will hold 11.8% of the capital and 11.7% of the votes in Logistea.

The acquisition is expected to close on 20 December 2023.

Stockholm-listed Logistea focuses on warehousing, logistics, and light industrial properties.

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