Nordic Investor NREP has increased its exposure to core logistics markets in Sweden with the purchase of 86,000 m[sup]2[/sup] in Gothenburg, Jönköping, Örebro and Stockholm.
Nordic Investor NREP has increased its exposure to core logistics markets in Sweden with the purchase of 86,000 m2 in Gothenburg, Jönköping, Örebro and Stockholm.
NREP acquired the SEK 750 mln (EUR 86 mln) of assets from four different sellers - DSV, Berlinovo, a Saudi family office and Schroders. NREP also signed a loan facility of SEK 890 mln to finance the purchase and to re-finance part of the existing logistics portfolio in Sweden.
The portfolio purchased from DSV comprises three cross dockings situated in Gothenburg, Jönköping and Stockholm totalling 46,000 m2 on long leases. DSV has in conjunction with the transaction prolonged the lease with NREP in its 60,000 m2 Borås asset.
The property purchased from Berlinovo is a 16,700 m2 distribution centre in the port of Gothenburg occupied by the Swedish Post.
The 13,300 m2 cross docking purchased from the Saudi family office is located next to the E20/E18 motorway intersection in Örebro and is let to the Swedish Post. Finally a 10,000 m2 multi let distribution centre in Rosersberg north of Stockholm has been acquired from a fund managed by Schroders.
NREP Logistics AB is a niche investment company specialising in development and investments in prime logistics assets located strategically in the Nordics. The firm manages assets worth EUR 900 mln, and has investment capacity for another EUR 250 mln. NREP works uniquely with focused niche strategies in the Nordics and is currently operating three strategies focusing on modern logistics, self storage and value-add retail.
