Urban Partners has sold €1bn worth of logistics assets across the Nordics to Catena AB and Ontario Teachers’ Pension Plan in two separate deals.
The first deal involves logistics specialist Catena acquiring a 612,000sqm portfolio of 20 properties across Sweden, Denmark and Finland for €830m, marking the firm’s entry into the Finnish market.
The second transaction was the sale of a 118,000sqm portfolio of five assets across Sweden and Denmark to Ontario Teachers’, together with its operating partner, Fokus Nordic.
Urban Partners said the assets were sold on behalf of its NIP, NSF III, NSF IV and NSF V funds.
Jani Nokkanen, co-head of real estate and CIO at Urban Partners, said: “These transactions demonstrate Urban Partners’ ability to execute at scale and deliver strong outcomes for our investors, including through the largest Nordic, direct logistics portfolio sale in several years.
“In a market that is stabilising after a period of volatility, we have been able to generate liquidity by building high-performing portfolios with modern specifications, long leases and prime locations.”
Catena’s CEO, Jörgen Eriksson, said: “Catena’s position in the Nordic logistics property market is now even stronger and we are pleased to be moving into Finland. The acquisition improves our range of high-quality modern properties and expands both our geographical presence and our customer base.
“We are looking forward to getting to know the customers that operate in the facilities and we hope to enter into rewarding partnerships in which we can support their needs and develop together.”
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