The properties that Areim acquires from Castellum are leased to 92 percent to a mix of attractive tenants and is located among residential properties and a local centre with proximity to the motorway. Areim is planning several maintenance and refurbishment measures to increase the energy performance of the properties.

“It is gratifying to continue to grow our light industrial portfolio in Sweden with an acquisition of this size. Given that the market has been tough, we are particularly pleased to have acquired a portfolio in a very attractive location that also offers good transport links. The work of further developing the properties in line with our strategy will begin immediately”, says Jesper Warén, Head of Light Industrial Investments at Areim.

“We are divesting less prioritized properties to make room for new acquisitions and investments in existing projects, where we see many interesting opportunities in the near term,” says Sven Stork, Managing Director in Stockholm at Castellum.

“In accordance to our strategy, we are transitioning the property portfolio toward higher density in prioritisedareas. It is gratifying that the transaction market is active in Castellum's segment. The sale price confirms our carrying amounts,” says Kristina Sawjani, Chief Investment Officer at Castellum.

In the past year, Areim has expanded its Swedish light industrial portfolio from approx. 210,000 sqm to approx. 275,000 sqm of lettable area. The portfolio now consists of roughly 60 properties in Greater Stockholm, Uppsala, Gothenburg, and Västerås, and also includes a significant volume of unused building rights as well as ongoing development.