Sagax invests €94m in French real estate

Swedish listed property company Sagax has invested a total of SEK 1.05 bn (€93.8 mln) in the French market through two separate transactions.

Logistics

Firstly, they increased their ownership in FWP, a special purpose vehicle (SPV) that holds a portfolio of 43 properties (285,000 m² of lettable area and 902,000 m² of freehold land) leased entirely to Metro for their wholesale operations. 
Sagax's stake in FWP has risen from 77% to 95% with an investment of SEK 690 mln (€61.6 mln), acquiring the shares from an insurance company. 
This portfolio, primarily located in the Paris, Lyon, Lille, and Marseille regions, generates an annual rental income of SEK 270 mln (€24.1 mln) with a weighted average lease term (WALT) of 9 years, where the tenant covers most operating and maintenance expenses.
Secondly, Sagax acquired three properties in Paris for SEK 360 mln (€32.1 mln). These properties comprise 24,000 m² of lettable area on 37,500 m² of land, generating an annual rental income of SEK 22 mln (€1.9 mln) with an occupancy rate of 82% and a WALT of 2.1 years.
The first investment has already closed, while the second one is expected to finalize in Q3 2025. Sagax's property holdings as of 30 June 2025 amounted to 5,004,000 m², distributed over 989 properties.