Nyfosa signs letter of intent regarding acquisition of property portfolio for approximately SEK 1.1 billion
Nyfosa has signed a letter of intent with Galjaden Fastigheter AB to acquire a property portfolio primarily comprising properties for warehousing, industrial and wholesale operations, mainly located in high-growth municipalities in Sweden. The portfolio contributes with strong cash flows and continued growth.
Nyfosa intends to acquire 90 percent of the property portfolio for a value of approximately SEK 1.1 billion. The remaining 10 percent of the portfolio will be retained by Martin Hansson, one of the part-owners and CEO of Galjaden. Martin Hansson will continue to be the CEO of the company with the task of developing and growing the property portfolio. The property management will continue to be handled by Galjaden's team. The intention is to enter into binding agreements on acquisition during October 2020.
“Martin Hansson has done a strong job of building up Galjaden and we are pleased to be continuing on this journey together and building further on this portfolio. Martin and the company have been successful in identifying land and building up new attractive space within their segments. The plan is that the company will continue to grow by actively seeking out new acquisition and development opportunities,” says Stina Lindh Hök, COO and incoming CEO of Nyfosa.
“I am looking forward to continuing to develop the portfolio together with Nyfosa. Together we have the right capacity and financial strength to further ramp up the operations. We see several attractive opportunities ahead in our property segments,” says Martin Hansson, CEO of Galjaden.
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
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 September 16, 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 June 30, 2020, Nyfosa owned commercial properties with a total property value of approximately SEK 24.9 billion. Read more at www.nyfosa.se
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