Helaba finances Swedish logistics properties

German lender Helaba has financed logistics properties in Sweden for the Norwegian Pareto Group.

The SEK 240.5 mln (EUR 27 mln) facility is for two logistics properties in Haninge in the Stockholm region.

Pareto Group is an independent operator in the Norwegian market for financial services and, at the same time, one of the largest holders of real estate in Norway. The Pareto Project Finance manages properties worth more than NOK 30 bn (EUR 4 bn).

Both logistics properties are fully let under long-term agreements. The property in Jönköping serves as distribution centre for the discount store Rusta and its range of home furnishings and leisure products.

The property in Haninge functions as the northern European headquarters of Tech Data AB, part of the Tech Data Corporation, the biggest worldwide logistics company for IT and software products.

For Helaba, this facility underlines its long term commitment to the Nordic markets. Since the start of activities in that region in 2006, the bank has provided financings of more than €3.5 mln in Northern Europe, focusing on well located high quality properties.