Stockholm, 21 mars 2019 - The divestment of ”Project Ostium,” one of the largest logistics transactions ever carried out in Sweden, has now been announced and represents a milestone in the Swedish real estate market.
Alecta and Bockasjö AB are divesting the joint venture Logistikfastigheter i Sverige AB to Prologis for SEK 3.8 billion (circa EUR 370 million).
The transaction, which was completed with Cushman & Wakefield acting as the seller’s advisor, has taken the Swedish and Nordic logistics markets to European levels in terms of pricing and investor interest as a result of its magnitude, high quality and location. The buyer is Prologis.
Karl Persson, Head of Sweden and Capital Markets lead for Project Ostium, Cushman & Wakefield, comments: “It has been a great pleasure and an honour to be entrusted by the seller to carry out this transaction. We are seeing investors who previously did not view the Nordic region as a potential target for investment in the segment now showing strong interest. The requirements were, rightly so, set at a high level and we worked hard to meet the expectations of our client.”
James W. T. Chapman, International Partner, EMEA Capital Markets, Cushman & Wakefield, comments: “The Nordic logistics market offers exceptional value when you consider the economic stability and rental growth potential in key hubs. We saw investor interest from Asia, North America and Europe demonstrating how the region is now a key part of any pan-European logistics portfolio. We expect such interest to grow throughout 2019 as investors continue to explore growth markets.”
The portfolio, comprising 11 properties covering a total of approximately 295,000 square meters in prime logistics locations in Sweden, has a unique composition in terms of tenants and quality. At European level, such a high-quality portfolio has not been available to investors.
For further information, contact:
Head of Sweden
Mobile: +46 (0)70 269 87 71
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.Cushman & Wakefield (NYSE: CWK) är ett ledande globalt fastighetstjänsteföretag som genom att omsätta idéer i handling, levererar betydande värde till fastighetsägare, investerare och hyresgäster. Cushman & Wakefield är bland de största fastighetstjänsteföretagen med 51 000 anställda på cirka 400 kontor i 70 länder. Under 2018 hade företaget en omsättning på 8,2 miljarder USD och ett tjänsteutbud som omfattar property-, facilities- och project management, uthyrning, capital markets, värdering och andra tjänster. För mer information, besök www.cushmanwakefield.com eller följ @CushWake på Twitter.