SLF purchases two logistics properties in Sweden for €43m

Swedish Logistic Property (SLP) has purchased two fully leased logistics properties in Haninge, Sweden, from Kilenkrysset in an off-market deal worth SEK 465 mln (€43 mln).

The properties total 24,000 m2, including significant cooled storage space, and generate SEK 29.5 mln (€2.7 mln) in annual rent. 
SLP financed the acquisition with existing funds and by issuing 1,134,699 new B shares valued at SEK 40 mln (€3.6 mln).
The properties occupy a prime location in Jordbro, a key logistics centre south of Stockholm.
Tommy Åstrand, CEO of SLP, said: “We are very pleased to be able to complete another deal with Kilenkrysset. Not least that they have once again chosen to partially reinvest in SLP through newly issued shares, which is a clear confirmation of our long-term strategy and value creation. The properties have stable cash flows with attractive tenants and development opportunities in the form of solar cells, environmental certifications, and low rents.”
Jan Persson, CEO and owner, Kilenkrysset, added: “The properties included in this deal should be seen as some of the most attractive logistics properties within the Jordbro industrial area. Through the deal, we also increase our shareholding in SLP, which further strengthens our relationship.”