M&G Real Estate has made a €36 million ($42 million) logistics acquisition in Norrköping, southwest of Stockholm.
“This is the third Nordic logistics asset that the M&G European Property Fund has recently acquired as part of its strategy to increase exposure to high-quality, core logistics facilities. As with the other assets, this comprises a well-specified warehouse in an excellent location, with a strong credit tenant. Compared with other European markets, we anticipate a faster economic recovery to take place in Sweden, which should support rent growth for core logistics assets over the medium term,” said David Jackson, fund manager at M&G Real Estate.
The investment has been made on behalf of the M&G European Property Fund, managed by Jackson and Simon Ellis, and takes M&G’s exposure in Swedish logistics to €130 million ($153 million) following two deals earlier this year in the established logistics submarkets of Brunna and Segeltor
