Hines has acquired a light industrial portfolio of 10 properties in Sweden from Nordic property manager Areim.
Hines, through its core-plus Hines European Property Partners fund, has invested an unspecified amount to acquire the 28,000sqm portfolio situated in last-mile locations in Gothenburg, the greater Stockholm area and Uppsala.
The portfolio is 94% leased, with leases averaging 8.4 years in remaining term.
Julia Mejegård, head of investments, Sweden, Areim, said: “We are pleased to announce this divestment as it marks a successful conclusion of a value-creating journey. During our ownership, we have enhanced the quality of the properties and established a stable, long-term income profile.
“The portfolio clearly illustrates Areim’s business model, where a research-driven investment rationale is paired with dedicated, tenant-focused asset management and development. Even after this divestment, Areim maintains a strong light industrial platform in these geographies, and we remain focused on increasing property values and delivering solid returns.”
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