Wästbygg Gruppen AB (publ) divests large logistics property in Norway
Wästbygg Gruppen’s subsidiary, Logistic Contractor, has signed an agreement with Niam, who is acquiring a logistics property under construction in Norway. The agreed property value amounts to 1,450,000,000 NOK. The transaction is carried out through a combination of forward funding and forward commitment. Niam will take possession of the property upon completion during the summer of 2025.
The property, located in Eidsvoll north of Oslo, has been developed by Logistic Contractor. There is already a fifteen-year lease agreement with Ahlsell, who will establish a new Norwegian central warehouse in the 64,000-square-meter building. Ahlsell and Logistic Contractor have had a close collaboration during the development phase to design a building that is well-suited to Ahlsell's operations. Significant emphasis has also been placed on long-term sustainability with certification according to Breeam-NOR and a solar panel installation that will produce at least as much electricity as the operation will require annually.
"We are very pleased with the fact that we can offer Niam attractive property acquisitions. This is LC’s second deal with them, as Niam previously acquired a facility we developed for Mathem in Stockholm. In about fifteen months, we will deliver a state-of-the-art logistics facility to both Ahlsell and Niam, and we look forward to a good collaboration during the production period," says Jonas Jönehall, CEO of Wästbygg Gruppen.
Cushman & Wakefield Norway/Sweden, together with 60 Grader Næringsmegling and Ræder Bing Advokatfirma, have assisted Logistic Contractor in the transaction.
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For more information, please contact:
Jonas Jönehall, CEO
Ph +46 73-920 19 01, email jonas.jonehall@wastbygg.se
Robin Sundin, Chief Legal Officer and Head of Investor Relations
Ph +46 72-529 30 04, email robin.sundin@wastbygg.se
About Wästbygg Group:
The Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial. The group comprises Wästbygg AB, Rekab Entreprenad AB and Logistic Contractor AB.
The group operates in the most rapidly expanding markets in Sweden, with Logistic Contractor also providing services in Denmark, Norway and Finland. In 2023, the group had sales of SEK 4.8 billion and 550 employees.
