Sagax inks shed deals in Finland and the Netherlands

Swedish listed property investment company AB Sagax has executed two industrial deals worth SEK 396 mln (€38 mln) in Finland and the Netherlands. 

The investor acquired a warehouse in Vantaa, Finland, from mutual pension insurer Ilmarinen, for SEK 165 mln in a share deal.

The property consists of 62,300 sqm of lettable area, of which the majority is high-bay storage.

The Swedish investor also purchased two warehouses properties in Eindhoven, the Netherlands, with 6,600 m2 of space.

The annual rent of the properties amounts to the equivalent of SEK 37 mln. The average remaining maturity of the leases is 6.9 years.

Advium advised Ilmarinen on the warehouse sale.


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