Northern European Properties (NEPR), a real estate investor active in the Nordic and Baltic regions, has purchased two property portfolios for EUR 134.8 mln from LR Nordic Properties, a subsidiary of the London & Regional group.

Northern European Properties (NEPR), a real estate investor active in the Nordic and Baltic regions, has purchased two property portfolios for EUR 134.8 mln from LR Nordic Properties, a subsidiary of the London & Regional group.

The first portfolio consists of 15 industrial and logistics properties, 12 of which are in south and central Sweden, two are in Poland and one in Germany. The portfolio was acquired for EUR 84 mln, reflecting a yield of 8.1%. The properties have a total lettable area of about 240,000 m2 and are let on average lease terms of 12 years to industrial companies such as Finnveden and Bufab.

The second portfolio, consisting of four hotels in Finland, was acquired for EUR 50.8 mln. The yield on the purchase price was 6.5% and the average lease term is 15 years. The properties have a total lettable area of about 28,000 m2. The tenants are Finnish hotel chains Sokos Hotels and Restel.

'We are currently considering a number of transactions in the Baltic region of Russia and our priority is now to finalise these,' said Thomas Lindeborg, ceo of NEPR.