Swedish listed property firm Sagax has purchased 18 properties across Europe for a total of SEK 750 mln (€65 mln) in eight separate transactions.
The 18 acquired properties have a combined lettable area of 85,000 m2 and 209,000 m2 of land, including 18,000 m2 under leasehold. One property, valued at approximately SEK 6 mln (€519,440), is currently vacant.
The remaining properties generate SEK 52 mln (€4.5 mln) in annual rental income, representing a 96% occupancy rate, with an average lease term of 6.8 years.
Sagax will finalise SEK 485 mln (€42 mln) worth of acquisitions in Q4 2024 and an additional SEK 265 mln (€23 mln) in early 2025. The purchases are distributed across the company’s Benelux (SEK 322 mln), Spain (SEK 163 mln), Germany (SEK 140 mln), and France (SEK 125 mln) operations.
In terms of sectors, Sagax focuses in particular on warehouses and light industrial spaces. Its investment approach is to hold properties for the long term rather than trade them.
Sagax’s portfolio at 30 September 2024 comprised 970 properties totalling 4.77 million m2.
