Niam is pleased to announce the successful acquisition of a prime logistics portfolio in Sweden. The transaction was completed on November 29, 2023. The portfolio comprises three freehold assets with a strong tenant base, strategically located in robust logistics hubs. All properties are modern and generic, with certifications according to GreenBuilding or BREEAM standards.
"We are active in the Nordic logistics segment, seeking generic properties and property portfolios with long-term demand and/or strategic value for tenants. We have evaluated and continue to evaluate transactions in the region, and it is thus exciting to present Niam's latest logistics acquisition," says Henrik Gerdin, Fund Manager at Niam.
"It is satisfactory to acquire such a well-managed portfolio of high-quality logistics properties. We are confident that Borås, Ljungby, and Halmstad are, and will continue to be, highly attractive locations for logistics in Sweden and the Nordic region. The portfolio's composition, with solid tenants and its size of nearly 93,000 sqm, marks Niam's ongoing ambitions in the segment. We look forward to a good collaboration with our new tenants," says Tobias Brynjer, Director at Niam.
The seller of the portfolio was Savills Investment Management on behalf of its Nordic Logistics Fund.
During the ten-year hold of the assets, Savills IM has conducted an active ESG strategy as part of the business plan, including replacement to LED in all buildings, installation of solar panels for two of the assets, implementation of green leases and GRESB reporting as well as tenant satisfactory surveys - amongst other measures. All three assets have ambitious environmental certifications including BREEAM New Construction and GreenBuilding.
The Savills IM Nordic Logistics Fund is a club deal on behalf of German institutional investors launched in 2014 as a German real estate special fund. At launch, the fund acquired a logistics portfolio which comprised 11 assets in Sweden, Denmark, Finland, and Norway. Since then, a further asset in Sweden was acquired and six assets were sold, most recently a portfolio in Denmark consisting of four assets in December 2021.
Savills IM currently manages properties in the Nordics with a total value of circa EUR 1.6 billion, consisting of residential, retail, logistics and office properties in Sweden, Denmark, and Finland.
“The demand for prime logistics assets in the Nordic region remains high despite the current market headwinds. We are delighted to hand over to Niam the management of this solid portfolio benefiting from strategic logistics hub locations, a strong tenant base and great ESG credentials. This sale is in line with the fund’s strategy, and we are capitalising on the initiatives that have been undertaken during our ownership as well as on improving values since our early entry which will benefit our investors. Going forward, we continue to look for new investment opportunities where we can use our extensive network and long track record within logistics in the Nordic market to add value on behalf of our clients,” says Peter Broström, Head of Nordics at Savills IM.
Savills IM was advised by DLA Piper (legal) and CBRE (commercial) in the transaction.
Niam was advised by Roschier Advokatbyrå (legal) in the transaction.