Kungsleden, a Swedish listed property company, is acquiring 25 properties for about SEK 657 mln (EUR 72.5 mln) in three separate transactions. The properties have a total lettable floor-space of about 122,600 m2, and the deals reflect an estimated yield of 6.8%.
Kungsleden, a Swedish listed property company, is acquiring 25 properties for about SEK 657 mln (EUR 72.5 mln) in three separate transactions. The properties have a total lettable floor-space of about 122,600 m2, and the deals reflect an estimated yield of 6.8%.
The majority of the properties are located in southern and central Sweden, and comprise 36% retail, 58% industrial/warehouse and 6% office premises, Kungsleden said. The largest tenants are Swedish nationwide building supplies retailer ByggMax and global transport and freight corporation DHL. The average rental contract term is 7.7 years; the property portfolio has a rental value of just over SEK 55 mln (EUR 6.06 mln).
In early November, Kungsleden purchased eight properties in Sweden for EUR 22.6 mln, generating a yield of 7.2%. The company took possession of the building on December 1.
