This follows the recent forward funding purchase of a EUR 146 million state of the art logistics facility development in Eskilstuna, Sweden, for Coop Logistik AB on behalf of DWS’ open-ended institutional real estate fund Europe II, earlier in December.
The logistics complex in Jönköping is leased to El-Giganten Logistik AB, one of the largest electronics companies in Northern Europe, on a long-term basis. Comprising 112,000 square meters, it is characterized by its fully automated sorting and storage facilities enabling efficient and high capacity operations serving Norway, Sweden, Denmark and Finland. The long-term sole use and successive expansion of the building demonstrates the strategic importance of the location for the tenant given its location within the Nordic Trade Triangle between Malmö, Gothenburg and Stockholm.
“This acquisition further expands our presence in Sweden and in the logistics sector. We will continue to focus on assets with strong tenant profiles in well-established locations with access to large consumer markets across Europe,” said Martin Weikamp, Head of Real Estate Transactions, Northern Europe at DWS.
“Long-term, fully let prime logistics in established locations combined with positive sector fundamentals contribute to make this an attractive investment for our fund,” added Matthias Naumann, CIO Europe Real Estate at DWS.
The transaction was carried out in collaboration with Newsec, local partner of DWS in the Nordics.