Nyfosa sells to Blackstone

Stina Lindh Hök, CEO of Nyfosa.

Image: Nyfosa

Nyfosa sells to Blackstone

Sweden — Nyfosa has signed an agreement to divest 9 light-industrial and warehouse properties with a total lettable area of 58,000 square meters. The properties are located in Burlöv, Gothenburg, Haninge, Huddinge and Härryda. The agreed property value amounts to MSEK 761 (EUR 65.6 million).

2023-10-05

Of the properties, 2 are located in Burlöv, 2 in Gothenburg, 3 in Haninge, 1 in Huddinge and 1 in Härryda. The properties' annual rental value is estimated to amount to MSEK 55 (EUR 4.74 million), of which 25 percent is vacant. The average remaining lease term amounts to 2.8 years.

The transaction entails an unrealized change in value of MSEK 44 (EUR 3.79 million) which will be reported in the interim report for the third quarter of 2023. The unrealized change in value includes a deduction for deferred tax because the transaction is carried out through a divestment of the property-owning subsidiaries.

The properties are divested to an entity owned by funds advised by Blackstone. Closing is expected to take place on October 11, 2023.

"I am satisfied that Nyfosa, despite a cautious market, can carry out transactions that can create value for both sellers and buyers,” comments Stina Lindh Hök, CEO of Nyfosa.

Axel Ohlsson

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