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.”

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