SAGAX INVESTS SEK 760 MILLION IN A CROSS-DOCK AND WAREHOUSE PORTFOLIO IN SPAIN
Sagax has acquired a portfolio of 19 properties in Spain for the equivalent of SEK 760 million. The properties comprise a lettable area of 90,300 square metres consisting of premises for cross-docking and warehousing purposes. The properties are located across Spain in prime locations within their respective sub-markets. The annual rental income amounts to the equivalent of SEK 59 million. The occupancy rate is 100% and the average remaining lease term is 3.7 years. The lease agreements are triple net, which means that the tenants are responsible for all operating and maintenance costs