Allianz Real Estate has added an €85m logistics facility in Sweden to its Nordics portfolio.
The manager said it has acquired the newly built 70,000sqm logistics facility in Norrköping from developer Infrahubs Holding. The asset is let to postal services firm PostNord on a long-term lease.
The latest acquisition takes Allianz Real Estate’s Nordics portfolio to almost €2bn in assets under management.
Thomas Villadsen, Nordics and CEE director at Allianz Real Estate, said: “The Swedish logistics market, the largest in the Nordics, is undergoing major structural changes given rapid digitalisation and e-commerce uptake. The Nordic logistics markets offer great investment opportunities, with Copenhagen, Helsinki and Stockholm, in particular, experiencing dynamic yield compression.”
Annette Kröger, CEO of North and Central Europe at Allianz Real Estate, said: “This latest acquisition is further testament to our high-conviction stance towards logistics as an investment sector and our cross-sector approach to ESG.
“It also illustrates, following our residential joint venture with Heimstaden last year, our desire to build our Nordics real estate footprint given the attractive investment fundamentals the region continues to offer.”
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