PATRIZIA has completed the purchase of a large urban logistics portfolio in Sweden from Alta Fastigheter. The portfolio comprises 10 newly developed industrial and logistics properties in the Swedish cities of Linköping, Norrköping and Nyköping. The acquisition is a significant initial investment for a new €300 million Nordic industrial platform, created through a strategic partnership with Broadgate Asset Management, a leading Nordic real estate operating partner.
With over 37,000 sqm of leasable industrial space, the portfolio has a current occupancy rate of 97% and presents a strong income profile among more than 30 industrial and logistics tenants. The assets are located southwest of Stockholm in several consolidated industrial submarkets along the E4, Sweden's busiest motorway.
Dan Valenzano, Chief Transaction Officer of PATRIZIA, explained, "We are pleased to announce the acquisition of this high quality urban industrial portfolio in Sweden. The investment follows several months of in-depth occupational and market research of the Nordic industrial sector and is consistent with our focus on resilient income-oriented investment strategies. In addition to the portfolio's strong income profile and diversified tenant exposure, there are numerous value-add opportunities that we will seek to exploit together with our partner, Broadgate."
For Johan Öhlund Lagerdahl, PATRIZIA's country manager and head of asset management in Sweden: "This acquisition represents an interesting entry into the Swedish urban industrial and logistics market and strengthens PATRIZIA's growing Nordic exposure to around EUR 3 billion of real estate assets. The industrial sector in the Nordics continues to show resilient occupational demand against a very limited supply of new build, high quality accommodation, which supports our investment thesis for this portfolio."
Hampus Brodin, co-owner of Alta, said: "Over the past three years, we have developed a platform of new generation logistics and industrial buildings with the ambition to challenge traditional construction methods. The buildings are future-proof and focus on architecture, digitalisation, flexible distribution and a strong sustainability profile. We believe PATRIZIA and Broadgate have a strong and professional track record and are the right owners to continue to manage these properties."
PATRIZIA and Broadgate have been advised by Roschier (legal), EY (tax and financial) and Tjuren (technical). Colliers Capital Markets (financial) and Real Advokatbyrå (legal) advised the seller.
