PATRIZIA launches EUR 300 million Nordic industrial platform with acquisition of Swedish urban logistics portfolio

• PATRIZIA has acquired a 10-property urban logistics portfolio in Sweden
• The investment will form the significant seed portfolio in a EUR 300 million platform targeting the Nordic urban industrial and logistics market
• PATRIZIA has created the platform as a strategic JV partnership with Broadgate Asset Management, a leading Nordic real estate operating partner

London / Stockholm, 23 August 2023. PATRIZIA, a leading partner for global real assets, has completed the purchase of a large urban logistics portfolio in Sweden from Alta Fastigheter. The portfolio comprises 10 newly developed urban industrial and logistics properties in Linköping, Norrköping and Nyköping. The acquisition is a significant initial investment in a new EUR 300 million Nordics industrial platform, which is a strategic joint venture partnership with Broadgate Asset Management, a leading Nordic real estate operating partner.

Spanning over 37,000 sqm of leasable industrial space, the portfolio has a current occupancy rate of 97%, and features a strong income profile across more than 30 light industrial and logistics tenants. The properties are located south-west of Stockholm in established industrial submarkets alongside the E4 - Sweden’s busiest motorway.

Dan Valenzano, PATRIZIA Managing Director, Transactions, says: “We are pleased to announce the acquisition of this high-quality urban industrial portfolio in Sweden. This investment is being made after several months of deep occupational and market-based research of the Nordic industrial sector and is consistent with our thematic approach and disciplined focus on resilient income-driven investment strategies. In addition to the portfolio’s robust income profile and diversified tenant exposure, there are numerous value-add opportunities that we will be looking to unlock together with our JV partner, Broadgate.”

Johan Öhlund Lagerdahl, PATRIZIA Country Manager and Head of Asset Management - Sweden, added: “This acquisition represents an exciting entry into the Swedish urban industrial and logistics market and furthers PATRIZIA’s growing Nordic exposure to c. EUR 3 bn of real estate AUM. The Nordic industrial sector continues to display resilient occupational demand against very limited supply of newly built and high-quality accommodation, underpinning our investment thesis for this portfolio. We are delighted to be partnering with Broadgate in this JV and look forward to adding to this initial investment and building a significant urban industrial presence across the Nordic region.”

Hampus Brodin, Co-owner of Alta, said: "Over the last three years, we have developed a platform of next-generation logistics and industrial buildings with an ambition to challenge the traditional construction methods. The buildings are future-proof with a focus on architecture, digitalisation, flexible layouts, and a strong sustainability profile. We believe PATRIZIA and Broadgate have a strong and professional track-record and are the right owners to continue managing these properties."

PATRIZIA and Broadgate were advised by Roschier (legal), EY (tax and financial), and Tjuren (technical). Colliers Capital Markets (financial) and Real Advokatbyrå (legal) advised the seller.

PATRIZIA: A leading partner for global real assets

With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 39 years. PATRIZIA manages more than EUR 58 billion in assets and employs over 1,000 professionals at 28 locations worldwide. PATRIZIA is making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis (“colourful circle”) in Germany for aftercare of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has helped around 280,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 24 years. You can find further information at www.patrizia.ag