Logistea acquires fully let logistics property in Helsinki

Swedish real estate company Logistea has reached an agreement to purchase a cold storage and logistics property in Vantaa, Helsinki, for an underlying property value of SEK 142 mln (€12.7 mln).

Vantaa, Helsinki

The property spans 6,078 m2 and comes with a new 8-year lease agreement, generating an annual rental income of approximately SEK 10.7 mln (€0.96 mln).

This acquisition expands Logistea's portfolio with the property located in Vantaa, Finland, about 10 minutes east of Helsinki Airport. Built in 2023, the facility primarily features cold storage, production, and warehouse space, along with a smaller portion of office space. Upon closing, a new lease will be signed with an initial term of 8 years, with an option for both parties to extend for an additional 4 years. The tenant will cover all operating and maintenance costs, including insurance.

The transaction is expected to finalise once certain conditions related to an ongoing business transfer of the tenant are met.

The tenant is a prominent Finnish food producer specialising in salad products. The property has undergone substantial investments in its infrastructure and installations to meet the rigorous standards required for food production.

The acquisition will be financed using Logistea's available funds.

Anders Nordvall, deputy CEO and CIO of Logistea, commented: "We are happy to announce Logistea’s first acquisition in the capital region in Finland. The property is of high quality and adds strong cash flow and a solid tenant in a stable industry. We look forward to a long-term collaboration with the tenant."