SLP enters its hundredth property via its first acquisition in Gothenburg. which means that the portfolio now consists of 100 logistics properties, a total area of approximately 1 million m2 at a value of c. €890m. The acquisition is a sale and lease back deal.
"Our growth journey continues unabated, and means that in addition to our organic growth, we have acquired an average of one property per month since the founding of the company in 2019. Furthermore, it is pleasing that we are now carrying out our first acquisition in Gothenburg. The property is a development logistics property adapted for so-called "last-mile" cold and freezer storage, an area where we see increased demand," said Tommy Astrand, CEO of SLP.
The property Backa 29:14 has a total area of c. 20,700m2 and a rentable area of c. 6,700m2, with a possibility of further extension. The Backa area is a well-established logistics hub and has a strategically very good location near the E6. The lease, which is fully indexed, is signed with Aroma Frukt & Gront AB and runs for just over 6.5 years with an annual rental value of €730,000. On the property, there is an opportunity to invest in energy projects such as solar cells. The agreed property value amounts to c. €8.8m and the transaction is financed with own funds.
"At SLP, we work with sustainability as an integral part of our business model in our daily work. We are beginning to see a connection between sustainable logistics properties and increased demand and thus value creation for the society as well as for our tenants and shareholders," said Tommy Astrand.
Image source - Cision.
Europe Real Estate — an overview of real estate developments in European countries.
