Panattoni invests €300m in Swedish logistics market

Panattoni has made a €300 million ($320 million) acquisition of seven sites totaling 121.3 hectares (300 acres) in the region of Stockholm and Skane. The vendor is Kilenkrysset, a Swedish family-owned real estate owner and developer. The land has the zoning permits and potential to develop 661,450 square meters (7.1 million square feet) of logistics gross leasable area, for an estimated total investment of more than €1 billion ($1.07 billion).

“Panattoni is accelerating its expansion across West European markets, and this record Swedish land transaction is probably the most spectacular entry into a new market we’ve achieved so far,” said Robert Dobrzycki, CEO and co-owner of Panattoni Europe and India. “The deal was sealed just six months after Panattoni opened its first Swedish office in Gothenburg, and it is a tribute to the skills of the local team and our ability to quickly deploy institutional capital at scale when opportunities present themselves.”