With a total footprint of more than 1.3 million square meters, NREP is the largest pan-Nordic owner, developer and operator of modern logistics properties, all developed and operated under the brand name of ‘Logicenters’.
In a move to ensure future portfolio growth through the development of modern and high-quality properties in key locations, NREP has decided to sell 11 selected properties. A majority of the 11 properties have been in NREP’s ownership for a considerable amount of time, some even up to 12 years, which is in line with the overall strategy of being a long-term owner and developer.
“These assets have been in our portfolio for many years and it is therefore a natural step to selectively sell in order to free up capital for a strategic renewal and growth of the properties under Logicenters’ management. This will allow us to invest in new developments and acquisitions”, says Rickard Dahlberg, Partner at NREP.
The divestment is expected to be more than replaced within the foreseeable future, Logicenters has 13 ongoing development projects with a total of more than 400,000 square meters in the pipeline. Of these, ten projects are in Sweden, one in Denmark and two in Finland – all of them with energy-efficient solutions or solar panels.
JLL, Accura, Real, Wikborg Rein, KPMG, and PWC have advised NREP on the transaction.
Cushman & Wakefield has been the advisor to Blackstone.