The property, Väghyveln 5, situated in the Pilängen logistics area in Örebro, was completed in 2023 by leading logistics developer Logistic Contractor. Spanning a lettable area of 9,600 sqm, it is single-let on a 12-year lease agreement to VWR International. Noteworthy features include exceptional load-bearing floor capacity, floor-to-ceiling height, an Autostore automation facility and an unused building right.

“The investment is a stellar beginning, perfectly aligned with SNRE’s core-plus strategy. It signals the launch of our pan-Nordic investment program, and we are well positioned to accelerate the pace of investment as the market evolves,” says Henrik Bastman, Fund Manager of Storebrand Nordic Real Estate Fund.

SNRE is built around a Nordic core plus strategy, geographically spanning Sweden, Norway, Denmark, and Finland. The strategy, which encompasses a multisector approach, is currently focused on the logistics and living sectors. SNRE is also selectively evaluating office sector opportunities in the capital regions. Investment decisions are steered by factors such as initial yields, rental growth prospects, long-term structural themes, and sustainability considerations. The Nordic core plus strategy builds on Storebrand’s lengthy and leading experience with nationally-focused property investments in Norway, Sweden and Denmark.

“The newly acquired property exemplifies Storebrand's commitment to investing in assets offering sustainable long-term value. Situated in a strategic location in the Nordic regional transportation network, the facility meets SNRE’s stringent investment and sustainability criteria. We are committed to enhancing the ESG profile of the asset, as we believe this contributes to superior risk-adjusted returns over time. The building has a Miljöbyggnad Silver environmental certification, energy performance certificate B and solar panels are currently being installed on the roof,” Bastman concludes.

The transaction is planned to close in March 2024, with Roschier, Svalner, and WSP serving as advisors to Storebrand during the transaction.