Following a number of major acquisitions and investments over the year, Catena has also had an active summer with a series of smaller transactions generating conditions for continued growth.
24 August 2018, 11:00 a.m.
Catena began the summer with the larger-scale acquisition of Apotea’s warehouse in Morgongåva. Several smaller acquisitions and sales have since been implemented in the second and third quarters.
Most recently, on 14 August, Catena sold the company Catena Muskötgatan AB, with the Kroksabeln 17 property in Helsingborg. The transaction was made at an underlying property value of SEK 21.2 million. The property is slightly more than 7,000 square metres in size and has a rental value of SEK 3 million when fully leased. Also, on 18 May, the company Catena Borås AB, with the Tappen 1 property in Borås was sold to Avere Fastigheter AB. The transaction was made at an underlying property value of SEK 25 million. The property has an area of 5,700 square metres and a rental value of SEK 2.7 million.
“Catena’s focus is logistics properties in strategic locations and, by continuously evaluating our property portfolio, we ensure that we are meticulous in our initiatives for the future,” says Benny Thögersen, CEO of Catena.
Catena has completed important land acquisitions in both Umeå and Malmö. The Magneten 6 property in Umeå was acquired on 2 July. The transaction was made as a corporate acquisition at an underlying property value of SEK 20 million. The property comprises approximately 42,000 square metres of land, which is currently leased out as vehicle and equipment parking with a rental value of SEK 0.6 million. The property is favourably located adjacent to Catena’s other property in Umeå, Mätaren 6. On 9 July, an agreement was also signed for two new properties just outside Malmö, a transaction being conducted as a corporate acquisition with an underlying property value of approximately SEK 22 million. The area of the properties is approximately 25,000 square meters, with a current leasehold income of SEK 1.1 million. The properties are well-situated adjacent to Highway 11 and the E6/E20 motorway and border on land acquired by Catena in early 2017.
“Our land reserves comprise approximately 1.7 million square metres and are continuously being supplemented to enable future investments when the right opportunities and customers are in place,” says Benny Thögersen, CEO of Catena.