Nyfosa acquires property portfolio at a value of approximately SEK 2.5 billion with a high proportion of tax-financed tenants and opportunities for development
Nyfosa has acquired all properties and projects in Estea AB’s wholly owned subsidiary and investment fund Estea Sverigefastigheter 3 AB (publ) at a value of approximately SEK 2.5 billion. Approximately 60 percent of the portfolio is located in the Stockholm region and it adds an attractive mix of property categories, stable cash flows and opportunities for development to Nyfosa.
The acquisition comprises of 16 properties, whereas one of the properties is classified as a project property, located in Stockholm, Karlstad and Eskilstuna with a leasable area of approximately 92 thousand square meters. Tax-financed tenants account for 55 percent of the rental value and among the largest tenants are Karlstad Municipality, Region Värmland and Stockholm County Council. The rental value amounts to a total of approximately MSEK 160 and the average remaining contact length is 4.4 years. The occupancy rate is 94 percent. As a part of the acquisition, Nyfosa will also obtain the ongoing project development of the Nacken 1 property in Eskilstuna with approximately 200 planned rental apartments. Closing date for the property portfolio is planned for 16 November, 2020.
“The portfolio which consists of both rental housing, schools, healthcare centers, offices and warehouse/logistics, suits Nyfosa very well. We are one of few players on the market that can acquire a portfolio comprising such a mix of segments. In addition to properties generating secure cash flows from a high proportion of tax-financed tenants, several zoning plan processes are also under way which we estimate will generate approximately 20,000 square meter GFA in residential building rights, primarily in the Stockholm region”, comments Stina Lindh Hök, COO and incoming CEO of Nyfosa.
For more information, please contact:
Stina Lindh Hök, COO, stina.lindh.hok@nyfosa.se, mobile +46 70 577 18 85
Josephine Björkman, Head of Transactions, josephine.bjorkman@nyfosa.se, mobile +46 70 226 29 62
Before it was published, this information was inside information and is such information that Nyfosa AB is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the aforementioned contact persons on October 23, 2020, at 3.30 p.m. CEST.
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 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
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