Söderport Fastigheter, a 50-50 joint venture between Swedish investors Sagax and Hemfosa Fastigheter, has acquired a mixed-use portfolio for SEK 470 mln (EUR 54 mln), reflecting a yield of 9%. The vendor is Swedish motor vehicle inspection company Bilprovningens.
Söderport Fastigheter, a 50-50 joint venture between Swedish investors Sagax and Hemfosa Fastigheter, has acquired a mixed-use portfolio for SEK 470 mln (EUR 54 mln), reflecting a yield of 9%. The vendor is Swedish motor vehicle inspection company Bilprovningens.
Closing will take place at the end of December.
The portfolio comprises a total of 142 properties across Sweden. They offer 123,000 m2 of rentable space occupied by the Swedish motor vehicle inspection company, with an average lease maturity of five years. The portfolio also includes 1.4 million m2 of land.
'A majority of all vehicle inspections in Sweden takes place in these properties. We believe that this type of asset is relatively non-cyclical,' said David Mindus, CEO of Sagax.
