Global alternatives investment giant Blackstone has purchased a logistics asset in Malmö, Sweden, for SEK 841 mln (around €81.3 mln) on behalf of real estate funds managed by the group.
The building, Landskrona Örja 1:20, was acquired from publicly listed SPV company, Logistea AB. It has a total gross area of 45,086 m2, including circa 15,800 m2 of office space. It was developed by the tenant, DSV, in 2012 and has a WAULT of 11.5 years.
Savills advised the vendor on the transaction, which is expected to close before the end of the year.
Niklas Zuckerman, head of investment at Savills Sweden, said appetite for Swedish logistics among Swedish and international buyers remains 'at an all-time high', with SEK 15 bn (€1.4 bn) invested in the asset class between January and September 2020. This makes it the fourth largest sector by volume with a market share of 11%.
'Given the strong fundamentals, we expect a number of further logistics transactions to complete in the next few months,' he said.
