Stockholm-listed logistics and warehousing company Stendörren Fastigheter has purchased a light industrial property in Bærum, Norway, for SEK 245 mln (€21 mln) from a private seller.
The 15,600 m2 Mølladammen Næringspark is fully leased to several tenants, with an average lease term of six years.
The asset generates an estimated SEK 18 mln (€1.5 mln) in annual net operating income, representing a 7.3% initial yield.
Stendörren Fastigheter expects the transaction to close on 28 November 2024.
Johan Malmberg, CIO of Stendörren, commented: ‘We are pleased to complement our existing portfolio in the Oslo region with a well-functioning business park with strong earnings capacity and solid tenants on longer leases. The property has an attractive location only about 23 kilometres northwest of central Oslo, and the acquisition implies that our portfolio in the Oslo region increases to approximately 23,500 square meters.’
