Swedish property company Swedish Logistic Property (SLP) has expanded its Swedish logistics portfolio with the acquisition of a SEK 306 mln (€26 mln) asset in Jönköping.
The property was acquired via a 15-year sale and leaseback agreement with Gripen Wheels, resulting in a triple-net lease with an annual rent of SEK 19.2 mln (€1.7 mln).
The 71,000 m2 property, Flahult 80:4, offers approximately 31,000 m2 of leasable space with significant room for future expansion.
SLP purchased the property using its capital in a corporate transaction.
Tommy Åstrand, CEO of SLP, commented: ‘We are pleased to complete the acquisition of a fully leased logistics property with a long lease that increases our average lease duration and strengthens our earnings per share. It is particularly pleasing that the tenant Gripen Wheels AB is a very strong counterparty with an impressive development. We plan to, in dialogue with the tenant and in accordance with our continuous sustainability work, refine the property to become more energy efficient and environmentally optimized.’
SLP’s portfolio in key Swedish hubs exceeds 1.1 million m2 of leasable space.
