Real estate fund and investment manager Genesta has acquired a high-quality logistics property from warehouse solutions creator and builder Infrahubs for an undisclosed sum.
Located along the E4 motorway in Jönköping, the property was completed in the end of 2022 and has a total lettable area of 45,700 m2.
It is fully leased, long-term, to outdoor power products manufacturer Husqvarna.
The building will be upgraded to be fully EU taxonomy-aligned, while a long-term action plan will be devised to improve energy efficiency and reduce the carbon footprint.
The ambition is to achieve a BREEAM In-use certification level of “Very Good”.
David Neil, CEO of Genesta, said: ‘This investment successfully signifies the opportunities that lies ahead also in a slower market. It supports our goal to create long term value with a robust, high-quality, and sustainable core plus portfolio across the Nordics. The transaction makes me proud of the team. Improving our properties and lowering their climate footprint is the pathway to reduce the climate impact of our funds. At the same time we help our tenants reach their own sustainability goals. As a first step a sizeable solar panel installation is planned.’
Antti Laine, transaction project leader Genesta, added: ‘There is great potential in this investment. For us it is time to invest, and we continue looking for assets in established and strong locations in the Nordics for our Value-Add and Core Plus Open Ended funds. We would like to thank the vendor and their advisor, Catella, for a very smooth process.’
The acquisition is the sixth investment on behalf of Genesta’s fifth fund GNRE Core Plus Open Ended, launched in 2021.
Roschier, Svalner, Ramboll, and RED Management advised Genesta in the transaction.
