NREP increases its exposure to Swedish core logistics markets with the purchase of 86,000 m² situated in Gothenburg, Jönköping, Örebro and Stockholm. NREP have acquired the assets from four different sellers namely DSV, Berlinovo, a Saudi family office and Schroders. NREP have in conjunction with the transactions signed a loan facility of SEK 890 mln (approx. 103 mln) to finance the purchase and to re-finance part of the existing logistics portfolio in Sweden.
The portfolio purchased from DSV constitutes three cross dockings situated in Gothenburg, Jönköping and Stockholm totaling 46,000 m² on long leases. DSV has in conjunction with the transaction prolonged the lease with NREP in its 60,000 m² Borås asset.
The property purchased from Berlinovo is a very well situated 16,700 m² distribution centre in the port of Gothenburg occupied by the Swedish Post. The 13,300 m² cross docking purchased from the Saudi family office is located next to the E20/E18 motorway intersection in Örebro and is let to the Swedish Post. Finally a 10,000 m² multi-let distribution centre in Rosersberg North of Stockholm has been acquired from a fund managed by Schroders.
"We are delighted that we have been able to grow our Swedish logistics portfolio with six assets in very good locations each occupied by tenants that excel in their respective businesses. The transactions place Nordic Real Estate Partners at the top of pan Nordic owners of prime logistics space with close to 500,000 m² across the Nordics", says Rickard S. Dahlberg.