Kungsleden, the listed Swedish property company, has acquired eight logistic properties in a sale-and-leaseback deal from paper and packaging firm Papyrus for SEK 532 mln (EUR 56 mln). The properties are in Stockholm, Norrköping, Vetlanda and Gothenburg, Sweden and the Danish capital Copenhagen. They provide a total lettable area of 61,000 m[sup]2[/sup] and generate a total annual rent of almost EUR 5 mln.
Kungsleden, the listed Swedish property company, has acquired eight logistic properties in a sale-and-leaseback deal from paper and packaging firm Papyrus for SEK 532 mln (EUR 56 mln). The properties are in Stockholm, Norrköping, Vetlanda and Gothenburg, Sweden and the Danish capital Copenhagen. They provide a total lettable area of 61,000 m2 and generate a total annual rent of almost EUR 5 mln.
Papyrus, part of the Finnish-Swedish Stora Enso Group, is the sole tenant of the properties, with an average lease of 5.5 years. The deal reflects a yield of 6.9%, Kungsleden said.
