London-listed Tritax EuroBox has made its first investment in the Nordics with the acquisition of a SEK474m (€47m) logistics asset in Sweden.

The company which invests in prime logistics real estate across continental Europe said the fully-let 28,900sqm asset comprises two logistics facilities located in the Port of Gothenburg.

Tritax EuroBox said this acquisition forms part of the deployment strategy for the company following the equity raise in March, and the subsequent green bond issuance in June.

Nick Preston, fund manager of Tritax EuroBox, said: “We are delighted to acquire our first asset in the Nordics which aligns with our disciplined investment approach and our long term strategic goals.

“The asset, held freehold, is located in the region’s strongest logistics market, and offers asset management upside through working closely with the occupiers to achieve their business plans and increase rents to market levels.”

Preston said the company expects to see continued strong market rental growth in the Port of Gothenburg, due to the natural constraint of land supply in the port area, and the increasing demand from occupiers.

“The Port of Gothenburg has a clear plan for growth, with significant infrastructure investment committed, further strengthening this location.

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