A fund managed by Storebrand Asset Management has purchased a newly constructed logistics centre in Borås, Sweden.
The asset was acquired for over SEK 600 mln (€51.9 mln) from a joint venture between Nordic textile and home interior chain Kid and Norwegian real estate operator Fabritius. The 57,000 m2 facility is designed to support Hemtex and Kid’s retail operations throughout the Nordics and Baltics, as well as their growing e-commerce business in Germany and Europe.
Situated on a 89,000 m2 site in Borås, 45 minutes from Gothenburg, the 585,000 m2 facility is leased to Kid/Hemtex for over 20 years at a below-market rent. Construction is in two phases, with the second phase due for completion in January 2025.
Erik Stensli, CEO of Fabritius, said: ‘The sales process clearly demonstrated the strong appeal of this property’s quality, location, and tenant. We received considerable interest, with well over 10 bids from Nordic and international buyers. We are very pleased with Storebrand as the buyer, who secured the deal in strong competition with other highly reputed bidders.’
Anders Fjeld, CEO of Kid, commented: ‘The Borås facility is a significant step forward for Kid, as it consolidates all logistics and distribution functions within the group into one large, efficient, and custom-built central warehouse. The property is designed for growth and features a high level of automation, including a large AutoStore system.’
Henrik Bastman, fund manager, Storebrand Nordic Real Estate, added: ‘We are very pleased to have acquired this high-quality logistics facility in a prime location. We greatly appreciated the smooth transaction process with Kid and Fabritius as the sellers, and we now look forward to maintaining a strong and long-term relationship with Kid and Hemtex as tenants.’
Colliers Norway and Sweden advised Kid and Fabritius and acted as brokers in the sale, with Føyen providing legal counsel to the sellers.
