The portfolio has gross rental income (annual rental income including additions) of SEK 47.2 million (approximately SEK 710 per square meter). The properties consist mostly of premises for warehouse and light industry and are located in southern and central Sweden, which complements the company's current portfolio well. The portfolio contains 19 tenants, the occupancy rate is approximately 100 percent and the average remaining rental period amounts to 6.4 years.
The transaction will be carried out through the acquisition of all shares in the property-owned companies from three separate sellers. The total preliminary purchase price for the shares in the property-owned companies is approximately SEK 192 million and the total underlying property value is approximately SEK 584 million. The company is expected to take over the properties at the beginning of the second quarter of 2019. All three acquisitions are conditional on the company receiving the necessary financing. The acquisitions are intended to be financed through a new share issue of approximately SEK 240 million, with the support of the AGM's authorization, and by issuing a SEK-denominated senior covered bond of SEK 350 million with maturity in May 2021.
Logistri Buys Portfolio
Sweden — Logistri buys ten properties with a lettable area of approximately 70,000 square meters for MSEK 584 (EUR 56M).