The properties also have development rights of about 20,000 square meters, which provide opportunities for future expansion. PostNord is signing a ten-year lease in connection with the transaction and the estimated net operating surplus for the properties amounts to approximately SEK 12.7 million. The acquired properties are modern, space-efficient, terminal-style distribution hubs, strategically located near access roads to urban areas, making them suitable for handling last-mile deliveries.

“These acquisitions take Catena a step further into the Danish market, additionally improving our conditions for linking Scandinavia’s freight flows. At the same time, we are deepening our close partnership with PostNord and we are proud that, as a landlord and active partner in discussions, we can contribute to their business beyond Sweden’s borders,” says Benny Thögersen, CEO of Catena.

The tenant, PostNord, offers communications and logistics solutions to, from and within the Nordic region. It delivers more than 150 million packages to the 25 million inhabitants of the Nordic region each year, as well as to 2 million companies.

“We look forward to our continued collaboration with Catena, which understands our needs well, particularly in terms of growing e-commerce logistics and efficient city logistics,” says Jesper Friisberg, Head of Real Estate, Nordic Region at PostNord.

Catena will take possession of the properties in Hilleröd and Horsens on 31 January 2020. The building in Odense is under construction, with Catena being scheduled to take possession on 1 September 2020.