Nordic real estate fund manager Genesta has bought a high-spec logistics facility from developer Skanska for SEK 285 mln (€27.5 mln).
Verkö 4, in Malmö, Sweden, is the 12th acquisition for Genesta's GNRE Fund II, which offers institutional investors exposure to value-add office, retail and logistics properties in the Nordic region.
The 19,600 m2 property is located close to the E4 and E20 main roads, Copenhagen and Kastrup Airport. It is currently let to Copenhagen Malmö Port AB and Stena Retail & Food Services in Sweden AB.
Genesta CEO David Neil said: 'The strategic location coupled with the high technical standard of the property will make it an attractive product on the leasing market. Going forward, we hope to pursue investments with similar characteristics.'
