Genesta fund makes 12th acquisition

Genesta has acquired the newly built 19,600-square-meter (210,000-square-foot) logistics property Verkö 4 in Malmö, Sweden, on behalf of its fund Genesta Nordic Real Estate Fund II from Skanska Fastigheter.

Located in the heart of Malmö Industrial Park, the property is situated close to the highways E4 and E20, the Copenhagen and Malmö harbor and Kastrup Airport. The property is let to Copenhagen Malmö Port AB and Stena Retail & Food Services in Sweden AB.

“We are very pleased with the addition of Verkö 4 to our portfolio,” said David Neil, Genesta’s CEO. “The strategic location coupled with the high technical standard of the property will make it an attractive product on the leasing market. Going forward, we hope to pursue investments with similar characteristics.”

This is the 12th acquisition on behalf of GNRE Fund II. Its strategy is to provide institutional investors with exposure to value-add office property investments in Stockholm, Cop