Nyfosa has signed an agreement to acquire a property portfolio with hardware retail in the northern Sweden at a value of SEK 377m.
The portfolio consists of nine properties with a total area of approximately 47 thousand square meters and a rental value of SEK 27m. The properties are well situated in nine cities in lower Norrland: Sundsvall, Östersund, Härnösand, Sollefteå, Åre, Funäsdalen, Strömsund, Vilhelmina and Norsjö. Dominant tenant, with 95 percent of the rental value, is K-Bygg Fresks focused on professional hardware retail. Average remaining lease term amounts to 11 years and the occupancy rate amounts to 97 percent. Closing date is planned to June 1, 2021.
“Hardware is a well-functioning retail segment. With properties in good locations in each city, modest rental levels and long-term agreements, this is a portfolio we like,” comments Josephine Björkman, Head of Transactions at Nyfosa.