Warburg-HIH sells retail warehouse park in Sweden

Warburg-HIH Invest Real Estate has sold a 9,700sqm retail warehouse park in Sweden to Svenska Handelsfastigheter.

Warburg-HIH Invest said it sold the asset in Sundsvall to the property company for an undisclosed sum. The property was bought for the Warburg-HIH Pan-Europa Fonds Nr. 3 fund in 2007.

The retail warehouse park is currently occupied by six different tenants.

The manager said the property was sold at a strategically opportune time after a temporarily vacated rental units was re-let and full occupancy of the entire property thereby accomplished.

Andreas Schultz, a managing director at Warburg-HIH Invest, said: “By selling this property, we achieved an optimal result, given the contractual situation at the property and current demand.”