Norwegian investment manager Ness, Risan & Partners (NRP) has acquired one of the largest logistics facilities in the Nordics from Swedish discount retailer Rusta AB in a sale-and-leaseback deal.
The newly built facility, located in Norrköping in eastern Sweden, will measure 117,000 m2 in total when the ongoing construction of another 46,000 m2 is completed.
'We regard this facility as one of the finest in the Nordics and we are excited to have completed the transaction,' commented Knut Ekjord, NRP's head of transactions.
According to NRP, the building features an automatic storage system with a ceiling height of more than 30 metres.
'This investment fits perfectly with our investment profile. The facility is modern and of high quality, located in a strategic location and backed by a long-term lease to a solid tenant. The property has the flexibility to meet the growth potential of Rusta,' said NRP fund manager Eirik Forthun.
Rusta is a pan-Nordic retailer with 108 stores, 87 of which are located in Sweden, with 19 in Norway and two in Germany. All of them are served by the logistic facility in Norrköping.
According to the retailer, the sale and leaseback deal releases funds for further company growth. Wilfast Förvaltning will be the property's facility manager.
NRP is an Oslo-based, Nordic real estate alternative investment manager with approximately 1.5 million m2 of Nordic logistics properties, making it the largest non-listed player in this segment.
