PATRIZIA launches €300m Nordic industrial platform with acquisition of Swedish urban logistics portfolio
PATRIZIA has completed the purchase of a large urban logistics portfolio in Sweden from Alta Fastigheter.
The portfolio comprises 10 newly developed urban industrial and logistics properties in Linköping, Norrköping and Nyköping. The acquisition is a significant initial investment in a new €300 million ($324 million) Nordics industrial platform, which is a strategic joint venture partnership with Broadgate Asset Management, a leading Nordic real estate operating partner.
Spanning over 37,000 square meters (398,265 square feet) of leasable industrial space, the portfolio has a current occupancy rate of 97 percent, and features a strong income profile across more than 30 light industrial and logistics tenants. The properties are located southwest of Stockholm in established industrial submarkets alongside the E4 — Sweden’s busiest motorway.
“This acquisition represents an exciting entry into the Swedish urban industrial and logist