Swedish Logistic Property: SLP acquires logistics property in Jönköping for SEK 502 million in a "sale and leaseback transaction" with IKEA
SLP has today acquired and taken ownership of a logistics property in Jönköping, Barnarps-Kråkebo 1:37, through a "sale and leaseback transaction" with IKEA (INGKA). The property, with an attractive location at the E4, has a lettable area of approximately 94,000 square meters and a land area of approximately 176,000 square meters in total.
In connection with the acquisition, a fully indexed 10-year lease agreement has been signed with IKEA for 63,698 square meters, corresponding to approximately 68 percent of the area, with an initial rental value of SEK 26.6 million. The agreed property value amounts to SEK 502 million.
The seller will pay for facade renovation and a functional and fire-technical separation of the vacant part, which will be carried out after occupancy. Through these measures, the property will have a modern appearance and be adapted for more tenants.
"Through the deal, we strengthen our rental duration and gain a very stable tenant. We also see good opportunities to create additional value by refining the property in the form of extensions, energy projects and leasing out the vacant part", says Filip Persson, CEO of SLP.
The property is being acquired through a company transaction and is intended to be initially financed with own funds.
For further information, please contact:
Filip Persson, CEO of SLP, telephone: +46 733 27 27 57
About SLP - Swedish Logistic Property
Swedish Logistic Property - SLP - is a Swedish property company that acquires, develops, and manages logistic properties with sustainability in focus. Value growth is created through development of the properties which are located in Sweden's most important logistic hubs. The property portfolio comprises a lettable area of approx. 1,600,000 sqm. SLP is a partner that takes responsibility and through this creates value for both tenants as well as for the company and its shareholders. SLP's share of series B is listed at Nasdaq Stockholm Mid Cap. For further information about SLP: slproperty.se.