Global real assets specialist Patrizia has acquired a 10-property urban logistics portfolio in Sweden, to seed a new €300 mln platform targeting the Nordic urban industrial and logistics market.
Patrizia has created the platform as a strategic JV partnership with Broadgate Asset Management, a Nordic real estate operating partner.
The Swedish portfolio, acquired from Alta Fastigheter, comprises 10 newly developed urban industrial and logistics properties in Linköping, Norrköping and Nyköping.
Spanning over 37,000 m2 of leasable industrial space, the portfolio has a current occupancy rate of 97%, and features a strong income profile across more than 30 light industrial and logistics tenants. The properties are located south-west of Stockholm in established industrial submarkets alongside the E4 - Sweden’s busiest motorway.
Dan Valenzano, Patrizia managing director, transactions, said: 'We are pleased to announce the acquisition of this high-quality urban industrial portfolio in Sweden.
'This investment is being made after several months of deep occupational and market-based research of the Nordic industrial sector and is consistent with our thematic approach and disciplined focus on resilient income-driven investment strategies.
'In addition to the portfolio’s robust income profile and diversified tenant exposure, there are numerous value-add opportunities that we will be looking to unlock together with our JV partner, Broadgate.'
Hampus Brodin, co-owner of Alta, said: 'Over the last three years, we have developed a platform of next-generation logistics and industrial buildings with an ambition to challenge the traditional construction methods. The buildings are future-proof with a focus on architecture, digitalisation, flexible layouts, and a strong sustainability profile.'
Johan Öhlund Lagerdahl, Patrizia country manager and head of asset management - Sweden, added: 'This acquisition represents an exciting entry into the Swedish urban industrial and logistics market and furthers Patrizia's growing Nordic exposure to around €3bn of real estate AUM.
'The Nordic industrial sector continues to display resilient occupational demand against very limited supply of newly built and high-quality accommodation, underpinning our investment thesis for this portfolio. We are delighted to be partnering with Broadgate in this JV and look forward to adding to this initial investment and building a significant urban industrial presence across the Nordic region.'
Patrizia and Broadgate were advised by Roschier (legal), EY (tax and financial), and Tjuren (technical). Colliers Capital Markets (financial) and Real Advokatbyrå (legal) advised the seller.
