Sagax has agreed upon the acquirement of five properties in Helsinki, all of them situated close to Helsinki airport, some 30 minutes from the city center. The properties comprise warehouses and light industrial premises, covering a total of 100,000 square meters of freehold land and 34,000 square meters of rentable area. Sagax’s total investment amounts to approximately 190 million Swedish crowns.
Sagax will gain possession at the beginning of the fourth quarter.
Commentary by David Mindus, CEO at Sagax:
- ”The properties complement Sagax’s current portfolio in Helsinki well. We assess, that Helsinki has a good opportunity for long-term growth, and that the microenvironments of the properties are attractive. The investment will bring a welcome contribution to Sagax’s administrational results and running cash flow.”
Source: Sagax Ab pressrelease 27.8.2013