Sagax Expands in Finland

Finland Finland Sagax acquires a warehouse property in the Vantaa, Helsinki and two propertis in Eindhoven in the Netherlands.

2018-11-02

Share via e-mail

Sagax has acquired a warehouse property in Vantaa, 20 minutes north of central Helsinki and 10 minutes from Helsinki-Vantaa airport. The property encompasses 89,000 sqm redeemed land area and 62,300 sqm leasable area mainly consisting of warehouse facilities. According to the lease investments can be requested in the property against rent allowance. The property is acquired in company form and access has taken place today.
 
The property is acquired from Ilmarinen. Our of the purchase price, MSEK 165 is paid through 4,900,000 newly issued ordinary shares in the D Series. The settlement price amounts to SEK 33.68 per share, corresponding to the average price during the last fifteen (15) trading days. The newly issued shares correspond to 1.8 percent of the capital and 1.2 percent of the votes in Sagax. The issue is carried out on the basis of the authorization granted at the Annual General Meeting on May 7, 2018. Following the issue, the total number of outstanding ordinary shares of Series D amounts to 101,900,000.
 
Sagax has also acquired two properties in Eindhoven, the Netherlands. The properties are located next to each other and have a total leasable area of ​​6,600 sqm, mainly consisting of warehouses. Access will take place in Q1 2019.
 
Sagax's combined acquisition cost amounts to SEK M396. The annual rent amounts to the equivalent of MSEK 37. The average remaining time of the leases is 6.9 years.
 
Advium was the advisor to Ilmarinen.




Axel Ohlsson
axel@nordicpropertynews.com




NCC Builds Residential for Elo

Finland Finland NCC will build 70 homes for Elo in Vantaa.


VVT Acquires Martinlaakson Ostari in Vantaa

Finland Finland VVT Property Fund I Ky acquires the Martinlaakson Ostari shopping centre from a fund managed by Cerberus Capital Management.

Conficap Purchase 33,000 sqm Offices

Finland Finland Conficap acquires three office properties located in Pitäjänmäki, Helsinki from a fund managed by Aberdeen Standard Investments.

The Strenghts of Turku

Finland Finland Trevian invests in Turku. Amalia Pöyry, Fund Manager, tells Nordic Property News what makes Turku interesting to Trevian and the company’s future in the city.

Cibus Acquires Six Properties

Finland Finland Cibus has signed the acquisition of a portfolio of six daily-goods properties in Finland. In conjunction with the transaction, Cibus has refinanced one of its three senior-loan facilities.


New CEO and COO at Citycon

Finland Finland The Board of Directors of Citycon has appointed F. Scott Ball as Citycon’s new CEO. Henrica Ginström becomes new COO.

Trevian Buys in Turku

Finland Finland Trevian purchases three properties in Raisio, Turku, from Kiinteistövarainhoito KVH.

Why Cibus Replaces their CEO

Finland Finland The Pareto company Cibus has had a very successful start since the giant acquisition of grocery stores in Finland. Despite this they have now chosen to replace their CEO. Chairman Patrick Gylling tells Nordic Property News about the change in CEO , the company’s new phase and why they are considering another CEO located in Sweden.

Technopolis Expands in the Baltics

Finland Finland Technopolis’ coworking network, UMA Workspace, is expanding now in the Baltic capitals. New UMA Workspaces will open in the city centers of Tallinn, Estonia and Vilnius, Lithuania in mid-2019.

Pareto on the New Business Opportunities in Finnish Social Structure

Finland Finland Pareto continues to invest in the Finnish social structure. After making a giant grocery store acquisition this spring they are now investing in care properties. Stefan Gattberg, Head of Corporate Finance and Project Finance at Pareto, tells Nordic Property News what makes Finland attractive, when they hope complete their next acquisition and what other areas of the social structure that could provide acquisition opportunities going forward.