Swedish listed property company Sagax has acquired a real estate portfolio in Finland from the pension insurance company Varma for SEK 219 mln (€22 mln).
The portfolio, comprising a total of 50,000 m2 of rentable area and 627,000 m2 of land, comprises 53 properties leased to three tenants within the machine rental, car inspection and wholesale trades.
The annual rental value amounts to approximately SEK 28 mln (€2.9 mln).
According to Sagax, the average remaining lease term is 3.4 years and the occupancy rate is 98%.
Sagax, which has a property portfolio comprising 432 properties across some 2 million m2, focuses on warehousing and light industrial assets.
