Catena acquires a logistics property in Umeå for SEK 174 million
Catena has today acquired and gained access to the Lagret 1 property in Umeå for a value of SEK 174 million. PostNord is the tenant on the property, which is being sold by Klockarbäcken Property Investment AB.
31 October 2018, 3:00 p.m.
The acquisition will be conducted as a corporate transaction at a predetermined property value of SEK 174 million. The purchase consideration for the shares amounts to approximately SEK 47.5 million and the acquisition is initially being financed through Catena’s own funds.
The property is situated on a plot of approximately 77,000 square metres and has a lettable area of approximately 25,000 square metres. The rental value amounts to SEK 14.8 million and the property is fully leased with a remaining lease term of seven years. The building mainly houses warehouse and logistics premises with both low and high-bay storage and is connected to the rail network. With one of Sweden’s most modern rail-freight yards and its northernmost container port, Umeå is an important logistics hub in northern Sweden.
“With the acquisition, we are further strengthening Catena’s position in northern Sweden. The tenant, PostNord, is also the leader in the Nordic market with steadily increasing e-commerce logistics – an area in which our experience and knowledge can contribute to their continued development,” says Benny Thögersen, CEO Catena.
The tenant, PostNord, offers communications and logistics solutions to, from and within the Nordic region. They also handle postal service for private individuals and companies in Sweden and Denmark. Each year, PostNord delivers more than 150 million packages to the 25 million inhabitants of the Nordic region and to two million companies.
For further information, please contact
Benny Thögersen, CEO
Tel. +46 (0) 706-60 83 50
Maths Carreman, Regional Manager Stockholm
Tel. +46 (0)730-70 22 12
Catena’s objective is to own, efficiently manage and actively develop well-situated properties that have the potential to generate steadily growing cash flow and good growth in value. Catena’s overriding goal, based on its focused orientation, is to give shareholders a favourable long-term total return. As of 30 September 2018, the properties had a total value of SEK 14,257.4 million.
Catena AB is listed on the NASDAQ Stockholm exchange.
This information is such that Catena AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.