19 July 2017, Finland | Corporate Finance | News
Jykes Kiinteistöt, owned by the City of Jyväskylä and the municipalities of Laukaa and Muurame, has sold an industrial portfolio. The properties of the portfolio are located in excellent positions with 80 per cent of them located within 5 kilometres of the Jyväskylä city centre. These buildings form a significant proportion of the entire real estate portfolio of Jykes Kiinteistöt. The buyer of the portfolio is a Swedish real estate investment company Sagax.
The total lettable area of the sold industrial portfolio consists of approximately 58 000 square meters. The buildings are in 20 locations and have 150 tenants. The sold portfolio is practically fully rented. The majority of the properties are used for manufacturing but the portfolio also contains four retail and office buildings that constitute approximately 17 per cent of the total lettable area.
The transaction price is approximately EUR 30 million.
Sagax is a Stockholm listed real estate investment company that specialises in warehouse and small industrial properties. Before the transaction, Sagax owned approximately 250 properties in Finland that have a combined lettable area of approximately 960 000 square meters.
Catella served as the financial advisor of the seller in the transaction.