Catena has agreed to acquire a 10-asset logistics portfolio in Finland from Urban Partners for SEK2.15bn (€190m).
The 142,300sqm portfolio, which includes two properties currently under completion, is being acquired from Urban Partners’ NIP and NSF V funds, extending an established relationship following a previous logistics transaction between the two firms.
The properties are fully let.
Catena said it is funding the acquisition through existing internal cash and credit facilities.
The transaction marks an expansion of the listed Swedish property group’s footprint in Finland, its newest target market.
Jörgen Eriksson, Catena’s CEO, said: “This acquisition is a great strategic fit for Catena. It adds modern properties in key logistics locations and brings well-established tenants into our portfolio. Together with our previous Finnish acquisitions, we now have a solid platform in Finland.”
Jani Nokkanen, co-head of real estate and CIO at Urban Partners, said: “As market conditions have stabilised, we have created liquidity by developing a strong-performing portfolio of modern assets in strategic logistics locations.”
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