Nyfosa has acquired all properties and projects in Estea AB’s wholly owned subsidiary and investment fund Estea Sverigefastigheter 3 AB (publ) at a value of approximately SEK 2.5 billion. Approximately 60 percent of the portfolio is located in the Stockholm region and it adds an attractive mix of property categories, stable cash flows and opportunities for development to Nyfosa.
The acquisition comprises of 16 properties, whereas one of the properties is classified as a project property, located in Stockholm, Karlstad and Eskilstuna with a leasable area of approximately 92 thousand square meters. Tax-financed tenants account for 55 percent of the rental value and among the largest tenants are Karlstad Municipality, Region Värmland and Stockholm County Council. The rental value amounts to a total of approximately MSEK 160 and the average remaining contact length is 4.4 years. The occupancy rate is 94 percent. As a part of the acquisition, Nyfosa will also obtain the ongoing project development of the Nacken 1 property in Eskilstuna with approximately 200 planned rental apartments. Closing date for the property portfolio is planned for 16 November, 2020.
“The portfolio which consists of both rental housing, schools, healthcare centers, offices and warehouse/logistics, suits Nyfosa very well. We are one of few players on the market that can acquire a portfolio comprising such a mix of segments. In addition to properties generating secure cash flows from a high proportion of tax-financed tenants, several zoning plan processes are also under way which we estimate will generate approximately 20,000 square meter GFA in residential building rights, primarily in the Stockholm region”, comments Stina Lindh Hök, COO and incoming CEO of Nyfosa.