Profit from property management has risen by 25 percent and our project portfolio has never been larger. Catena has both the capacity and the expertise to continue strengthening our position through further investments.
Catena has today signed an agreement to divest its remaining holding in the Regulatorn 2 property in Huddinge, south of Stockholm. The location of the property is considered not suitable to the purposes of a logistics warehouse.
Catena is today acquiring and taking possession of a property valued at SEK 280 million from the seller Domarbo Skog AB. The tenant at this efficient and climate-intelligent e commerce facility is online pharmacy Apotea.
Solid Försäkring AB is also moving into the magnificent eight-storey building on Landskronavägen, acquired by Catena in 2017. There is currently a great deal of activity in the property, a highly-visible landmark in Råå, Helsingborg.
Catena is investing SEK 107 million in an existing logistics building in Jönköping and is today signing a seven-year lease with Procurator. Following the investment, all logistics space in the property will be fully leased.
Catena has today signed a lease with DS Smith and Lekia and is investing SEK 358 million at Logistics Location Sunnanå, just outside Malmö, Sweden.
Catena continued to show improved profitability and continued growth in the first quarter. This success can be attributed to Catena’s ability to quickly identify customer needs as logistics becomes an increasingly important part of efficient retailing, due to new trends in consumption and purchasing patterns.
Shareholders of Catena AB (publ) are hereby invited to attend the Annual General Meeting Thursday, 26 April 2018 at 4:00 p.m., at the IVA conference centre, Grev Turegatan 16 in Stockholm, Sweden.
Catena has initiated a collaborative effort to develop a new logistics and food cluster through an associated company that will acquire properties in Bjuv for a total property value of SEK 85 million.
Today, Catena is acquiring the Mappen 1 property in Linköping for a purchase consideration of SEK 68.1 million. The slightly more than 22,000 square-metre property is strategically located adjacent to Catena’s other two properties in the area.
Catena has today signed a seven-year lease with Chefs Culinar and is investing more than SEK 115 million in a new logistics building. This will be the third company to establish operations at Logistikposition Sunnanå with a distribution warehouse of approximately 7,600 square metres.
“The fourth quarter results confirm the positive trend we saw during the year. At the same time, we have strengthened our positions in Malmö, Gothenburg and the Stockholm area. An improved letting ratio has resulted in increased profit from property management and allowed us to continue to generate strong cash flow. This enables us to grow further with new projects in order to develop our portfolio.”