Nyfosa completes acquisition of property portfolio for SEK 4.9 billion
As previously announced, on June 10, 2020, Nyfosa signed an agreement to acquire from SBB i Norden AB a property portfolio with primarily tax-financed tenants at a value of SEK 4.9 billion. The Swedish Competition Authority has given its approval of the transaction and the acquisition has thus been completed with access today. The deal adds stable cash flows and is another step in Nyfosa’s growth – the company’s property portfolio has increased by 50 percent this year.
The properties have a total annual rental value of approximately SEK 402 million, of which 79 percent is derived from tax-funded operations with the government, county councils, municipalities and other public agencies as tenants, such as the Swedish Transport Agency, the Swedish National Board of Housing, Building and Planning and the Swedish Police Authority. The commercial tenants include e.g. Lantmännen, Vattenfall and Dagab. Property locations include Västerås, Kristianstad, Luleå, Örebro, Karlskrona, Stockholm and Uppsala. The occupancy rate is 97 percent and the average remaining lease term is 2.3 years. The 38 acquired properties comprise an area of 303,000 square meters of primarily office premises.
“With this acquisition, we create exactly what we want – growth with stable and secure cash flows. Nyfosa is supplied with strong tenants, mainly tax-financed operations, in growth locations where we already have a presence. The fact that we have increased the property portfolio by 50 percent since the turn of the year is a sign of strength ", comments Stina Lindh Hök, COO of Nyfosa.
For more information, please contact:
Stina Lindh Hök, COO, stina.lindh.hok@nyfosa.se, mobile +46 70 577 18 85
Jens Engwall, CEO, jens.engwall@nyfosa.se, mobile +46 70 690 65 50
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 March 31, 2020, Nyfosa owned commercial properties with a total property value of approximately SEK 24.8 billion. Read more at www.nyfosa.se.
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