NREP buys two logistics assets in Sweden

Nordic Real Estate Partners (NREP) has signed an agreement to acquire two logistics assets in Sweden from property company Kilenkrysset for SEK 445 mln (EUR 51 mln).

The assets are situated in Strängnäs south of Stockholm and in Härryda, Gothenburg and were completed in 2009 and 2005 respectively. The 27,500 m² distribution centre in Strängnäs is let to Menigo Food Service on a long-term lease. The 12,900 m² facility in Härryda is well situated between the motorways E6, E20 and NR40 and is let to the Swedish Post on a long-term lease.

'We are pleased to have agreed this transaction with Kilenkrysset who share our view of high-quality buildings and the importance of maintaining a good relationship with the tenants. The assets fit well into NREP Logistics's strategy and complement the current portfolio both in terms of location and tenant mix,' said Rickard Svensson, a partner at NREP.

NREP Logistics is a niche investment company specialising in developments and investments in prime logistics assets in strategic Nordic locations. NREP is a Nordic private equity real estate company with 25 professionals and offices in Finland, Denmark and Sweden. NREP today manages assets worth EUR 500 mln, and has investment capacity for another EUR 400 mln.