Logistea AB (publ) has acquired a site leasehold in Turku, Finland. The agreed property value amounts to SEK 114 million and the asset has a lettable area of 9,069 sqm. The asset has five tenants with an annual rental income of SEK 10.6 million, of which FedEx and DHL accounts for c. 90%.
Logistea expands its property portfolio and has acquired the site leasehold on the property 853-458-1-182 in Turku, Finland, with a unique airside location enabling package handling directly to and from the aircrafts. The anchor tenant FedEx has been in the cross-dock terminal since completion in 2003 and DHL for 18 years. The leasehold has a 51-year remaining term with a 50-year extension option on unchanged terms, as well as market value compensation at expiry. Closing of the transaction took place today on June 17th.
"We are happy to continue to grow our Finnish portfolio and announce Logistea’s first acquisition in Turku, Finland. The asset is anchored by international and financially solid tenants and has a mission critical location in one of the growth centres of Finland." says Anders Nordvall, Deputy CEO and CIO of Logistea.
The acquisition is funded with available funds.
