Sagax Acquires in Four Countries

David Mindus, CEO of Sagax.

Image: Sagax

Sagax Acquires in Four Countries

Nordic — Sagax has through eight separate transactions acquired five properties in Finland, three properties in Paris, three properties in the Netherlands and one property in Stockholm. The aggregate acquisition cost amounts to the equivalent of SEK 775 million.

2021-06-24

The properties have a lettable area of 58,300 square meters, mainly consisting of premises for warehousing and industrial purposes. The gross annual rental value amounts to the equivalent of SEK 59 million. The occupancy rate is 97 percent and the average remaining lease term is 3.7 years.

Closing for the equivalent of SEK 182 million has taken place. Closing for the remaining SEK 593 million is expected to take place during the third quarter of 2021. In France, municipalities have a right of first refusal regarding property transactions. Such right of first refusal applies to the equivalent of SEK 100 million.

Axel Ohlsson

[email protected]