Nyfosa acquires a property portfolio at a value of MSEK 695
Nyfosa has signed an agreement with among others Skånska Industrifastigheter to acquire a property portfolio of nine properties in Malmö at an underlying property value of MSEK 695.
The properties have an area of approximately 37,800 square meters in total, of which 68% is warehouse/logistics and the remaining part is office, retail and restaurant, with annual rental income of SEK 49.4 million. The properties are located in Malmö. The tenants are among others Malmö Lastbilscentral AB, Abkati, and Stryker AB. The average remaining lease term for the whole portfolio amounts to 9.2 years. The occupancy rate amounts to 97 percent. At three of the properties, construction must be completed to a value of approximately MSEK 270 through the seller's care. With regards to these properties, the transaction is conditional on completion of the contracts and on the tenants moving in and paying rent. Closing date for these properties shall take place no later than August 31, 2020, December 31, 2020, and March 31, 2021. Financial closing date for the remaining properties, which have a total property value of approximately MSEK 425, is on August 31, 2019. The acquisition is intended to be financed through equity and bank loan.
“This portfolio mainly consists of modern warehouse/logistics properties in good and expansive locations with stable cash flows and a long average lease term. In addition, the properties complement our existing portfolio in Malmö well.”, says Stina Lindh Hök, COO of Nyfosa.
For more information, please contact:
Jens Engwall, CEO, jens.engwall@nyfosa.se, tel: +46 706 906 550
Stina Lindh Hök, COO, stina.lindh.hok@nyfosa.se, tel: +46 705 771 885
The information was prior to this release inside information and is information that that Nyfosa AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on July 10, 2019 at 4:30 p.m. CET.
About Nyfosa
Nyfosa is a transaction-based and opportunistic property company. The company’s business concept is based on active participation in the Swedish transaction market combined with an investment strategy that can be flexible to the property market. The goal is to develop and add value to a growing property portfolio while generating sustained high returns. At present, Nyfosa is focusing primarily on commercial properties in Sweden. As of March 31, 2019, Nyfosa owned commercial properties with a total property value of approximately SEK 15.7 billion. The company’s stock is listed on Nasdaq Stockholm since November 2018. Read more at www.nyfosa.se.