Castellum has entered into an agreement with real estate funds managed by Blackstone to divest a further 53 properties for net proceeds of €476m (SEK 4.8bn). The agreed property value involves a premium of 27% against the Q3 2020 valuation and 15% against the Q4 2020 valuation. Hand-over will take place on 3 May. The assets will be incorporated into Blackstone’s pan-European last-mile logistics platform, Mileway.
“Through this transaction, Castellum is continuing its strategic portfolio shift via the divestment of a mature stabilized portfolio, enabling it to expand in prime growth positions and develop the most modern and flexible logistics/warehouse offering in the Nordic region. The divestment once again demonstrates the value appreciation in our logistics portfolio. We now have a high turnover in our portfolio that facilitates strategic shifts and we expect a continued high level of activity during the year,” said Henrik Saxborn, CEO of Castellum. “Combined, this will position us as not only the largest, but also the most flexible and modern owner of logistics properties in the Nordic region.”