The acquisition comprises a total of 27,800 square meters of lettable area. The properties are located in good micro-locations in central Karlstad and the majority (just over 70 percent) of the rental income comes from tax financed tenants such as Region Värmland, the Municipality of Karlstad and the Swedish Pensions Agency. Contracted rental income for the portfolio is estimated to amount to approximately MSEK 37.
"The acquisition is in line with the Fund's focus on real estate in the public real estate, community real estate and similar segments. After the acquisition, about two-thirds of the fund's rental income comes directly or indirectly from state, municipal and residential tenants, which creates a safe and stable return with strong and long-term counterparties," says Johan Eriksson, CEO of Estea.
Access is scheduled to November 29, 2019.