M&G Real Estate has added a €36m logistics asset in Sweden to its European Property Fund.
The manager said the acquisition of the 39,063sqm fully let property in Norrköping takes its exposure in Swedish logistics to €130m.
The company previously made two deals earlier this year in Brunna and Segeltorp.
David Jackson, fund manager at M&G Real Estate, said: “This is the third Nordic logistics asset that the M&G European Property Fund has recently acquired as part of its strategy to increase exposure to high quality, core logistics facilities.
“As with the other assets, this comprises a well-specified warehouse in an excellent location, with a strong credit tenant. Compared with other European markets, we anticipate a faster economic recovery to take place in Sweden, which should support rent growth for core logistics assets over the medium term.”
To read the digital edition of the latest IPE Real Assets magazine click here.
