Global asset management firm Invesco has acquired a logistics warehouse facility in Helsingborg, Sweden, on behalf of a UK separate account client.
Financial details were not disclosed.
Invesco Real Estate handled the transaction, working with its local partner Scius.
The asset, Grustaget 3, has been acquired in a sale-and-leaseback from Alpy AB. The tenant is Boxon Group, a packaging operator operating in the Nordics, Europe and Asia-Pacific. As part of the acquisition, Boxon Group has extended its lease by 15 years to 2037.
Rob Johnston, managing director, UK & Nordics transactions, Invesco Real Estate, said: 'Grustaget 3 represents exceptional value on a long-term basis given the growth of logistics in the region.
'We look forward to working with Boxon Group to implement a dedicated ESG programme for the asset as part of Invesco’s global approach to best-in-class asset management.'
Helsingborg is located in southern Sweden across the Øresund Strait from Denmark, an established logistics location in Sweden, which is ranked the second strongest logistics location in 2021.
The asset has been refurbished and extended by Alpy between 2013 and 2019 and provides a modern distribution facility. As part of the acquisition strategy, Invesco will continue to collaborate with the tenant to create synergies and further improve the asset’s overall sustainability standards.
Joen Siggelin, partner, Scius, added: 'We’re delighted to be working with Invesco for the benefit of one of its UK clients.
'Sweden is undergoing a profound shift in distribution requirements as evidenced by e-commerce demand and tech-led service sectors. Opportunities for investors remain in a market developing fast to meet the needs of all types of consumers.'
Invesco Real Estate and Scius Partners were advised by Linklaters, PwC and Sweco, while Alpy was advised by Cushman & Wakefield and Lindahl.
