Nyfosa acquires property portfolio at a value of approximately MSEK 870 according to previous letter of intent
Nyfosa has signed an agreement with Galjaden Fastigheter AB to acquire a property portfolio at a value of approximately MSEK 870. The portfolio, mainly comprising warehouse, industrial and wholesale properties, contributes with strong cash flows and continued growth.
On September 16, 2020 Nyfosa announced that the company entered into an agreement with Galjaden Fastigheter AB to acquire 90 percent of a property portfolio to a value of SEK 1.1 billion. During the continued negotiations, the parties agreed that Nyfosa would instead acquire 100 percent of a property portfolio to a value of MSEK 870. After closing, property management will, through agreements, be sourced externally from the current real estate manager.
The 22 properties, of which two are project properties, located in growth areas such as Linköping, Norrköping, Södertälje, Sigtuna, Malmö and Sollentuna, comprise a leasable area of approximately 94 thousand square meters. The largest tenants include Optimera, Bevego and Dahl. The rental value amounts to approximately MSEK 78 and the average remaining contract period is 3.9 years. The occupancy rate is 97.6 percent. Closing date is planned for January 15, 2021.
“We are very pleased to accomplish this deal, which contributes to continued growth in property value and stable cash flows for Nyfosa. The properties also complement our existing portfolio in growth regions with strong tenants in good locations. We also look forward to our new cooperation with Galjaden's old property management team, in which we have great confidence”, comments Stina Lindh Hök, CEO of Nyfosa.
For more information, please contact:
Stina Lindh Hök, CEO, firstname.lastname@example.org, mobile +46 70 577 18 85
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 aim is to develop and add value to a growing property portfolio with sustained high returns. At present, Nyfosa is focusing primarily on commercial properties in Sweden. As of September 30, 2020, Nyfosa owned commercial properties with a total property value of approximately SEK 28.6 billion. Read more at www.nyfosa.se