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AB Sagax Acquires Warehouse Properties and Sells Properties

Thursday, 10 Jan 2013 04:58am EST 

AB Sagax announced that it has agreed to acquire two warehouse properties for an aggregate acquisition cost of approximately SEK 570 million. The properties are located in Haninge and Borlange and cover a total of 140,000 square meters of freehold land area and 71,000 square meters of rentable area. Over 70% of the lettable area refers to the property in Haninge. Both properties consist of warehouse with associated cooling and freezing storage and used are for food distribution. The properties have been renovated, adapted and expanded for a total of SEK 85 million over the period between 2008 and 2012. The leases have an average remaining term of eight years. The initial yield is estimated at 7.5%. The acquisition is in a form of a company and access will take place on January 31, 2013. The Company has in four separate transactions sold four non-strategic properties with a total lettable area of approximately 14,000 square meters. The total sales amounted to SEK 79 million. 

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