Cibus expands portfolio with 23 new retail assets

Nordic retail real estate investor Cibus Real Estate has acquired 23 properties across Denmark, Finland, Norway, and Sweden through five separate transactions.

Stina Lindh Hök

The total acquisition price for these assets is €103.9 mln, generating an annual rental income of €7.30 mln. The properties have a weighted average lease term of 7.8 years.

The portfolio's anchor tenants include prominent retailers such as Rema 1000 in Denmark and Norway, Tokmanni and Lidl in Finland, and ICA in Sweden. These properties span a total lettable area of 59,530 m2 and boast a high occupancy rate of 99.5%. Daily goods tenants contribute approximately 75% of the total rental income.

Three of these transactions, representing 20% of the total acquisition price, have already been finalised in March and April. The remaining two transactions are scheduled to close in late April and early May.

Stina Lindh Hök, CEO of Cibus Real Estate, commented: “The properties are generally of a good standard and are located in established areas where the underlying operations perform well. We are pleased to have completed acquisitions that both enhance the quality of Cibus' portfolio and increase earnings per share."