Prologis Acquires 295,000 SQM Portfolio of Prime Logistics Space in Sweden
Gothenburg (2 April 2019) – Prologis, Inc., the global leader in logistics real estate, today announced the acquisition of 295,000 square meters (3.2 million square feet) of prime properties in four of Sweden’s strongest logistics markets. The acquisition substantially strengthens Prologis’ presence in Sweden.
The highly complementary portfolio comprises 11 modern and flexible logistics properties designed for today’s advanced customer requirements. It also brings a diversified tenant roster of both new and existing Prologis customers.
The portfolio was acquired by Prologis European Logistics Fund (PELF).
In Line with Prologis’ Nordic Strategy
The properties are near Prologis’ existing portfolio ‒ and more than 70 percent of the acquired portfolio is in the Stockholm and Gothenburg area.
The acquisition creates and expands two existing Prologis logistic parks in Sweden to more than 120,000 square meters each: Hisingen, Gothenburg, and Arlanda Stad, which is close to Stockholm Arlanda Airport and 30 minutes from the Stockholm city center.
“The quality of these assets in this strong market, the solid and diverse customer base and the fact that the buildings are very complementary to our existing portfolio represents a solid strategy for building long-term value,” says Bram Verhoeven, senior vice president, regional head, Prologis Northern Europe.
The seller is Logistikfastigheter Sverige AB, founded in 2016 by Alecta, the occupational pension fund manager, and Bockasjö AB, a logistics developer.
In this transaction Prologis was advised by JLL and DLA Piper.