Genesta has signed an agreement to acquire a high-quality logistics property from Infrahubs. The property, completed in the end of 2022, is located along the E4 motorway in Jonkoping. The total lettable area is circa 45,700m² and fully leased to Husqvarna with a long-term agreement. The acquisition is the sixth investment on behalf of Genesta's fifth fund GNRE Core Plus Open Ended, launched in 2021.
"This investment successfully signifies the opportunities that lies ahead also in a slower market. It supports our goal to create long term value with a robust, high-quality, and sustainable core plus portfolio across the Nordics. The transaction makes me proud of the team," said David Neil, CEO Genesta. "Improving our properties and lowering their climate footprint is the pathway to reduce the climate impact of our funds. At the same time we help our tenants reach their own sustainability goals. As a first step a sizeable solar panel installation is planned."
With Genesta´s hands-on approach the building will be upgraded to be fully EU taxonomy aligned, securing long-term value for the fund by being at the forefront in adapting to new rules and stakeholder expectations. A carbon risk assessment has been performed with the CRREM tool to identify the stranding risk of the asset. It will be used to devise a long-term action plan for improving energy efficiency and reducing the carbon footprint of the building. The ambition is to achieve a BREEAM In-use certification level of “Very Good”.
