Sagax expands French portfolio with €176m acquisition

Swedish property company Sagax has acquired a portfolio of 48 properties in France for a total consideration equivalent to SEK 2.0 bn (€176 mln).

Sagax asset

The transaction includes 88,000 m2 of lettable area situated on 782,000 m2 of freehold land.

The portfolio is primarily comprised of strategically located public transport bus depots. The properties are fully let to high-credit-quality tenants, including state-controlled entities and leading public transport operators. Geographically, the portfolio is diversified across France, with a strong concentration in the Paris, Lyon, and Marseille regions.

The acquired assets generate an annual rental income equivalent to SEK 166 mln (€14.6 mln), with 94% of this income indexed to ILAT, the standard index for commercial leases in France. The portfolio maintains a 99% occupancy rate, with a weighted average unexpired lease term (WAULT) of 5.0 years. The net initial yield on the total acquisition cost is estimated at 6.7%.

Closing of the transaction is anticipated during the fourth quarter of 2026.

As of 31 March 2026, Sagax's existing property holdings totalled 5.3 million m2across 1,050 properties.