On 21 February, Catena announced its intention to acquire the Vrangelsro 5:4 property in Halmstad and the Logistiken 3 property in Umeå from Halmslätten Fastighets AB. Both properties have Martin & Servera, Sweden’s leading restaurant wholesaler as tenant.

The transaction in brief:

# Includes the Vrangelsro 5:4 property in Halmstad, with a lettable area of 49,980 m2 and the Logistiken 3 property in Umeå with a lettable area of 23,005 m2.

# The combined rental value for both properties is SEK 65.6 million with an estimated net operating income of SEK 60.5 million.

# For the Vrangelsro 5:4 property, the contract period is 12 years and for the Logistiken 3 property, it is 9 years.

# Vrangelsro 5:4 was built in 2009 and Logistiken 3 in 2015.

# Both properties are certified in accordance with BREEAM.

# Catena is scheduled to take possession of the properties on 13 April.

# Through the acquisition, Catena strengthens its position in attractive logistics locations where it already has other properties. Halmstad is located between two of Sweden’s strongest logistics hubs, Gothenburg and Helsingborg. Umeå is an important logistics hub in a region where newly established operations in the green steel industry and in the production of batteries for electric cars are growing strongly.

The acquisition of the Vrangelsro 5:4 and Logistiken 3 properties adds two modern logistics properties with a strong long-term tenant in Martin & Servera. Both properties have an attractive sustainability profile, being completely self-sufficient in heating through heat recovery from the cooling system.

“We are pleased to be able to add Vrangelsro 5:4 and Logistiken 3 to our portfolio. The acquisitions are in line with our strategy to own and manage modern logistics properties in key logistics locations. By strengthening our presence in Halmstad and Umeå, we position Catena for continued attractive growth,” says Jörgen Eriksson, CEO of Catena.