Logistea AB (publ) has entered into an agreement to acquire a cold storage and logistics property in Vantaa, Helsinki. The underlying agreed property value amounts to SEK 142 million and the lettable area is 6,078 sqm. In connection with the transaction, a new lease agreement is signed with an annual rental income of approximately SEK 10.7 million and an initial lease term of 8 years.
Logistea expands its property portfolio and has entered into an agreement to acquire the property 92-21-128-8 in Vantaa, Finland, located approximately 10 minutes east of Helsinki Airport. The property was constructed in 2023 with a total lettable area of 6,078 sqm and consists primarily of cold storage, production and warehouse space together with a smaller share of office space. Upon closing, a new lease agreement will be signed with an annual rent of approximately SEK 10.7 million and an initial lease term of 8 years with an option to extend by 4 years for both parties. The tenant is responsible for all operating and maintenance costs including insurance. Closing is expected to occur once certain conditions have been fulfilled in connection with an ongoing business transfer of the tenant.
The tenant is a leading Finnish food producer operating within the production and distribution of salad products. The building standard required by food production has meant significant investments in the property and its installations.
"We are happy to announce Logistea’s first acquisition in the capital region in Finland. The property is of high quality and adds strong cash flow and a solid tenant in a stable industry. We look forward to a long-term collaboration with the tenant," says Anders Nordvall, Deputy CEO and CIO of Logistea.
The acquisition is funded with available funds.
