Cibus Nordic Real Estate has agreed the acquisition of a portfolio of 18 properties leased to food retail chains S Group, Kesko and Tokmanni. Financial details were not disclosed.
The assets are located across Finland, and provide 31,000 m2 of space with a weighted lease maturity of over five years.
‘We have had our eyes on this portfolio for a long time and the fact that we can do this acquisition during these uncertain times shows the strength of the company. We have a non-cyclical business model that works and excellent relation with our banks,’ says Sverker Källgården, CEO of Cibus.
Also this week, Cibus raised SEK 600 mln (€58 mln) though the issue of a senior unsecured green bond. The operation – the first high-yield bond to be issued in Sweden since the start of the Covid-19 pandemic - will be used to finance green buildings.
‘The fact that the issue was oversubscribed, despite the current market situation, demonstrates the true strength of the Company. The investors appreciate the Company's defensive and stable business model. The Company is a growth company which has grown strongly during the first half of the year and has now secured additional financing to continue making good deals,’ adds Källgården.
