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Logistea sells Swedish logistics assets to Blackstone for €82m
Transactions - OCTOBER 21, 2020

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Logistea sells Swedish logistics assets to Blackstone for €82m

by Released

Logistea AB has sold a logistics asset near Malmö, Sweden, to subsidiaries of real estate funds managed by Blackstone for SEK 841 million (€81.3 million/$96.54 million). The transaction is expected to close before the end of the year.

The building, Landskrona Örja 1:20, has a total gross area of 45,086 square meters (485,301 square feet), including 15,800 square meters (170,070 square feet) of office space. It was developed by the tenant, DSV, in 2012.

Niklas Zuckerman, head of investment, Savills Sweden, said, “Appetite for Swedish logistics among Swedish and international buyers remains at an all-time high. SEK 15 billion [€1.4 billion/$1.66 billion] was invested in this asset class between January and September 2020, making it the fourth-largest sector by volume with a market share of 11 percent. Given the strong fundamentals, we expect a number of further logistics transactions to complete in the next few months.”

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