Swedish listed property firm Sagax has agreed to acquire two warehouses for a total of SEK 570 mln (鈧�66 mln), reflecting a yield of 7.5%.
Swedish listed property firm Sagax has agreed to acquire two warehouses for a total of SEK 570 mln (鈧�66 mln), reflecting a yield of 7.5%.
The vendor is a consortium of Wilfast and Norway's Ness, Risan & Partners.
The properties are located in Haninge and Borl盲nge and provide a total of 140,000 m2 of freehold land area and 71,000 m2 of rentable area. They have been renovated and expanded over the past five years, and are currently used as distribution facilities for food operators. They have an average remaining lease term of eight years.
Closing is expected for the end of January.
Commenting on the deal, Sagax CEO David Mindus said: 'Sagax is increasing its exposure to tenants in the food industry, which we believe is less sensitive to economic activity.' The investment will contribute positively to the company's management performance and cash flow, he added.
Separately, the company said it has sold four non-strategic properties with a total lettable area of 14,000 m2 for a combined SEK 79 mln.
