Swedish listed commercial real estate investor Sagax has expanded its portfolio with eight properties for SEK 692 mln (€61 mln).
The properties, acquired through seven transactions, secure 55,400 m2 of lettable space and 117,100 m2 of land, with 29,000 m2 being leasehold.
They feature a high occupancy rate of 99% and benefit from long lease terms of 9.2 years on average.
The initial closing of SEK 599 mln (€53 mln) for the majority of the transaction has been completed, while the remaining SEK 93 mln (€8 mln) will be finalized by the end of Q1 2024.
The investments are strategically spread across Finland (SEK 382 mln), Spain (SEK 217 mln), France (SEK 65 mln), and Germany (SEK 28 mln). This aligns with Sagax's core focus on investing in commercial properties within the warehouse and light industry segment, prioritizing a long-term approach and high-risk-adjusted returns.
With this acquisition, Sagax further strengthens its portfolio, which now encompasses 4,170,000 m2 of lettable space across 811 properties in seven countries (Sweden, Finland, France, the Netherlands, Spain, Germany and Denmark) as of 30 September 2023.
