Global real assets manager Patrizia has acquired a 10-property urban logistics portfolio in Sweden as seed assets for a newly created €300m Nordics industrial platform.
The 37,000sqm portfolio, acquired from Alta Fastigheter for an unspecified amount, has been placed into a new partnership Patrizia has created with Nordic real estate operating partner Broadgate Asset Management.
The portfolio in south-west Stockholm comprises newly developed urban industrial and logistics properties in Linköping, Norrköping and Nyköping and has a current occupancy rate of 97%.
Dan Valenzano, Patrizia managing director of transactions, said: “This investment is being made after several months of deep occupational and market-based research of the Nordic industrial sector and is consistent with our thematic approach and disciplined focus on resilient income-driven investment strategies.
“In addition to the portfolio’s robust income profile and diversified tenant exposure, there are numerous value-add opportunities that we will be looking to unlock together with our joint venture partner, Broadgate.”
Johan Öhlund Lagerdahl, Patrizia country manager and head of asset management in Sweden, said this acquisition represents an entry into the Swedish urban industrial and logistics market and furthers Patrizia’s growing Nordic exposure to €3bn of real estate assets under management.
Lagerdahl added: “The Nordic industrial sector continues to display resilient occupational demand against very limited supply of newly built and high-quality accommodation, underpinning our investment thesis for this portfolio.”
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