Logistea — M&A Activity 2022

Mar 1, 2022

Press Release 01 March 2022 07:30:00 CET

LOGISTEA

Logistea signs LOI to acquire 15 properties with a property value of MSEK 770

Logistea AB (publ) ("Logistea") has signed a letter of intent regarding the acquisition of 15 properties corresponding to approximately 125,000 square meters of lettable area with a property value of MSEK 770. Annual rental income amounts to approximately MSEK 52. The transaction is intended to be financed partly through a set-off issue of 2.5 million B-shares at a share price of SEK 33 corresponding to MSEK 82.5, through equity and through bank financing.

Logistea has signed a letter of intent regarding the acquisition of a portfolio of 15 properties with approximately 125,000 square meters of lettable area and an underlying property value of MSEK 770. The seller of the property portfolio is Profura AB. Existing tenants, majority owned by Profura AB have entered into triple-net agreements with an average maturity of approximately 13 years. Total annual rental income amounts to approximately MSEK 52. Rental income from the three largest tenants, Svensk Husproduktion AB, Örneborgs Delikatesser AB and Olle Svensson Partiaffär AB, corresponds to approximately 65 percent of the properties' total rental income.

The parties intention is that acquisition agreement will be concluded in March 2022, after the usual due diligence has been completed. Closing, access to the properties, is expected to take place in mid-May 2022.

"Logistea has a significant growth ambition with the target of reaching BSEK 15 in property value by the end of 2024. The letter of intent includes a property portfolio valued at MSEK 770 and follows Logistea's strategy to acquire properties in Sweden in good micro-locations with financially stable tenants," says Anders Nordvall, Deputy CEO & Head of Transactions, Logistea.

The transaction is intended to be financed through a set-off issue of 2.5 million B-shares to the sellers of the property portfolio at an agreed share price of SEK 33 per share corresponding to MSEK 82.5, through equity and through bank financing.

The following properties are included in the current property portfolio: Bromölla (Hammaren 4), Härryda (Assmundtorp 2:139), Gothenburg (Högsbo 38:11), Jönköping (Backen 1:138), Kramfors (Omne 6:6), Kungsbacka (Duvehed 2:29), Malmö (Kamaxeln 1), Part (Lexby 1:113), Piteå (Öjebyn 144:79), Tanum (Tanumshede 3:28), Tranemo (Skogarp 1:21 & 1:39), Vara (Tornum 9:75), Ånge (Ånge 31:25) and Ångelholm (Betongen 2).

Demand for warehouse and logistics premises is significant and Logistea's growth has been strong since the first property was acquired at the end of 2019. Existing property portfolio as of December 31, 2021, additional acquisitions in 2022 and letter of intent regarding acquisitions in Enköping together with the above-mentioned letter of intent means a total property value as of BSEK 3,809, 503,558 square meters of lettable area and annual rental income corresponding to approximately MSEK 265.

Logistea

Kornhamnstorg 6

SE-111 27 Stockholm

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Press Release 01 March 2022 07:30:00 CET

LOGISTEA

For additional information, please contact:

Anders Nordvall, Deputy CEO & Head of Transactions
Anders.nordvall@logistea.se

Tobias Lövstedt, COO
Tobias.lovstedt@logistea.se

About Logistea AB (publ)

Logistea is a Swedish real estate company focusing on warehousing, logistic and light industrial properties. The company's shares are listed on Nasdaq Stockholm with the short names LOGI A and LOGI B. For more information: www.logistea.se

This information is information that Logistea is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-03-01 07:30 CET.

Attachments

Logistea signs LOI to acquire 15 properties with a property value of MSEK 770

Logistea | Kornhamnstorg 6 | SE-111 27 Stockholm