PATRIZIA buys 10-property Swedish urban logistics portfolio

Part of the Swedish urban logistics portfolio

Real estate investment manager PATRIZIA has bought a 10-property Swedish urban logistics portfolio from industrial buildings specialist Alta Fastigheter.

The Swedish urban logistics portfolio consists of newly developed urban industrial and also logistics properties in Linköping, Norrköping and Nyköping.

The acquisition is a significant initial investment in a new €300 million Nordics industrial platform. PATRIZIA has created the platform as a strategic joint venture with Broadgate Asset Management, a leading Nordic real estate operating partner.

Spanning over 37,000 sqm of leasable industrial space, the portfolio has a current occupancy rate of 97% and features a strong income profile across more than 30 light industrial and logistics tenants. The properties are located in established industrial submarkets alongside the E4 – Sweden’s busiest motorway.

Exciting entry into the Swedish urban industrial and logistics market

Dan Valenzano, PATRIZIA Managing Director, Transactions, says, “We are pleased to announce the acquisition of this high-quality urban industrial portfolio in Sweden. This investment is being made after several months of deep occupational and market-based research of the Nordic industrial sector and is consistent with our thematic approach and disciplined focus on resilient income-driven investment strategies. In addition to the portfolio’s robust income profile and diversified tenant exposure, there are numerous value-add opportunities that we will be looking to unlock together with our JV partner, Broadgate.”

Johan Öhlund Lagerdahl, PATRIZIA Country Manager and Head of Asset Management – Sweden, adds, “This acquisition represents an exciting entry into the Swedish urban industrial and logistics market and furthers PATRIZIA’s growing Nordic exposure to circa EUR 3 billion of real estate Assets Under Management. The Nordic industrial sector continues to display resilient occupational demand against very limited supply of newly built and high-quality accommodation, underpinning our investment thesis for this portfolio. We are delighted to be partnering with Broadgate in this JV and look forward to adding to this initial investment and building a significant urban industrial presence across the Nordic region.”

Hampus Brodin, Co-owner of Alta, says, “Over the last three years, we have developed a platform of next-generation logistics and industrial buildings with an ambition to challenge the traditional construction methods. The buildings are future-proof with a focus on architecture, digitalisation, flexible layouts, and a strong sustainability profile. We believe PATRIZIA and Broadgate have a strong and professional track-record and are the right owners to continue managing these properties.”

PATRIZIA and Broadgate were advised by Roschier (legal), EY (tax and financial), and also Tjuren (technical). Colliers Capital Markets (financial) and also Real Advokatbyrå (legal) advised the seller.