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Castellum makes four strategic acquisitions of logistics in the Öresund region


News provided by

Castellum

Jan 13, 2021, 02:16 ET

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GOTHENBURG, Sweden, Jan. 13, 2021 /PRNewswire/ --

In a short period of time Castellum Region Öresund has completed a series of acquisitions in Malmö and Helsingborg, at a total acquisition price of approximately SEK 190 million.

In total, it's a four-leaf clover of strategically interesting deals that verifies Castellum as a proactive player in Swedish logistics.

At the end of December, Castellum communicated its sale of fully developed warehousing and logistics to Blackstone, a deal that in no way means reduced involvement in the segment. The current acquisitions in the Öresund region signal continued investment in an area that generates good cash flows. By acquiring these four properties in prime locations and with the possibility of continued expansion, Castellum's position in logistics is strengthened, not least in the dynamic Öresund region.

With increasing e-commerce as the prime mover the logistics industry continues to grow at a high pace. The Öresund region, with Malmö and Helsingborg in the lead, is experiencing a boom in properties adapted to the increasing demand, and Castellum is highly involved in the dynamic development of the region.

"I am very happy that we may enter the new year with these four strategic acquisitions in logistics. We see great potential in all these deals, and regard them as supplementary purchases with development opportunities for the existing portfolio," says Ola Orsmark, CEO of Castellum Region Öresund.

The four acquisitions in brief:

Drevet 1, Långeberga, Helsingborg
Helsingborg is a fast-growing logistics hub and a focus area where we see opportunities for continued growth. With a location close to communications along the E4/E6 roads, acquisitions of land for warehousing and logistics were made on 23 November, with the possibility of constructing two buildings with a total of approximately 41,000 sqm of lettable area.

Seller: SMEBAB Holding Ångermanland AB / Skanska Mark och Exploatering Bygg AB
Land area: approximately 51,000 sqm
Buildable area: approximately 41,000 sqm
Closing date: 25 November 2020
Acquisition price including overheads: SEK 28 million

Sälen 4, Nyhamnen, Malmö
Nyhamnen is Malmö's large development area for mixed urban development. Through the acquisition, which takes place via a company and includes the plot right Sälen 4, we are consolidating our presence in the area where Castellum already has several commitments. With its location close to the city and customers active in logistics, this is a strategically important acquisition in an interesting development area.

Seller: Five privately owned smaller companies
Land area: 5,129 sqm
Total lettable area: 1,889 sqm
Economical occupancy rate: 100%
Rental value: approximately SEK 1 million on an annual basis
Closing date: 1 December 2020
Acquisition price including overheads: SEK 13 million

Eggegrund 7, Östra hamnen, Malmö
This attractive logistics property in Malmö's East Harbour is leased in its entirety by Edström Logistics, who together with Castellum plans to further develop and expand its operations with additional premises. The acquisition takes place via a company and includes the plot right to Eggegrund 7.

Seller: S. Edström Logistics Malmö AB
Land area: 42,432 sqm
Total lettable area: 14,902 sqm
Economic occupancy rate: 100%
Rental value: approximately SEK 75 million on an annual basis
Closing date: March 1, 2021
Acquisition price including overheads: approximately SEK 115 million

Flintkärnan 5, Fosie, Malmö
Fosieby industrial area in Malmö is well established in logistics and warehousing, with operations since 1970. Today, more than 300 companies are established with workplaces for more than 10,000 people. For Castellum, Fosie is a priority sub-market for interesting property acquisitions. In this case, several customer relationships in the B2B sector within the Skanska sphere are also added.

Seller: Nöddesta Holding AB/Skanska
Land area: 9,949 sqm
Total lettable area: 3,730 sqm
Economic occupancy rate: 89%
Rental value: approximately SEK 3 million on an annual basis
Closing date: 18 December 2020
Acquisition price including overheads: SEK 31 million

For information please contact:
Henrik Saxborn, CEO Castellum AB, +46 706 94 74 50
Ulrika Danielsson, CFO Castellum AB, +46 706 47 12 61

About Castellum:
Castellum is one of Sweden's largest listed real estate companies with a property value of SEK 98 billion. We are active in 17 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions in close proximity to city centres and with a lettable area of 4.3 million square meters. One of our sustainability goals is to be completely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/castellum/r/castellum-makes-four-strategic-acquisitions-of-logistics-in-the-oresund-region,c3267093

The following files are available for download:

https://mb.cision.com/Main/8364/3267093/1358501.pdf

Release

https://news.cision.com/castellum/i/henrik-saxborn,c2866397

Henrik Saxborn

SOURCE Castellum

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