Swedish property investor Sagax has bought a 51,000 sqm logistics and industrial property in a sale-and-leaseback transaction in Vantaa. The property was sold by food industry company HKScan that remains as a tenant in the property. HKScan and Sagax have signed a 20-year lease agreement on the buildings and a 92,000 sqm site.
In connection with the transaction, the parties have signed a 20-year lease agreement for the buildings and approximately 92,000 sqm of land on which the buildings are located.
Newsec acted as advisor to the seller in the arrangement.
”We are very pleased with Newsec’s expertise in taking this demanding sale and leaseback arrangement forward and its ability to help resolve the details involved,” says Markku Suvanto, Executive Vice President HKScan Oyj.
”Newsec’s role in this challenging off-market transaction process was significant. Their approach was professional and solution-oriented,” says Jaakko Vehanen, Managing Director Sagax Finland Oy.
”Newsec congratulates the parties of the arrangement and believes that the transaction and lease agreement serve the objectives of both parties well. It has been very interesting to be involved in this complex and detailed process with a large number of experts behind its success,” says Matti Ahrelma, Senior Director Newsec.