The properties have an area of approximately 37,800 square meters in total, of which 68% is warehouse/logistics and the remaining part is office, retail and restaurant, with annual rental income of SEK 49.4 million.
The properties are located in Malmö. The tenants are among others Malmö Lastbilscentral AB, Abkati, and Stryker AB. The average remaining lease term for the whole portfolio amounts to 9.2 years.
The occupancy rate amounts to 97 percent. At three of the properties, construction must be completed to a value of approximately MSEK 270 through the seller's care. With regards to these properties, the transaction is conditional on completion of the contracts and on the tenants moving in and paying rent.
Closing date for these properties shall take place no later than August 31, 2020, December 31, 2020, and March 31, 2021. Financial closing date for the remaining properties, which have a total property value of approximately MSEK 425, is on August 31, 2019. The acquisition is intended to be financed through equity and bank loan.
“This portfolio mainly consists of modern warehouse/logistics properties in good and expansive locations with stable cash flows and a long average lease term. In addition, the properties complement our existing portfolio in Malmö well,” says Stina Lindh Hök, COO of Nyfosa.