Slättö Value Add I to sell two logistics developments to BlackRock Real Assets
Slättö Value Add I has divested two logistics developments in Stockholm and Enköping to BlackRock Real Assets.
Both developments are high-quality logistics facilities and are already pre-let to approximately 25%. The Stockholm asset is in a prime last-mile logistics location. The projects have high sustainability standards, as they will be powered by large-scale solar panel installations and receive environmental certifications.
Through Slättö’s logistics platform Evolv, Slättö Value Add I has completed approximately twenty acquisitions within the logistics and light industrial segments. Slättö Value Add I has already successfully concluded two portfolio divestments in the segment. Evolv continues to implement its strategy of proactively sourcing and developing assets within the Slättö Core+ and Value Add II funds.
- Slättö and our logistics platform Evolv continue to generate attractive opportunities in a very interesting segment. We are pleased to partner with a large player such as BlackRock Real Assets and look forward to completing the development of these assets in close collaboration with them, says Erik Dansbo, CIO and Partner at Slättö Förvaltning.
- Slättö has in recent months completed several divestments from older funds that are being wound up. During the past year, we have sold properties worth more than SEK 6 billion through thirteen transactions. In parallel, we have raised new capital for Slättö Core+ and Slättö Value Add II. We are well positioned to take advantage of opportunities that arise, adds Erik Dansbo.
- We are happy to join forces with Slättö to develop two high-quality logistics facilities in Sweden. This transaction is a natural next step in BlackRock’s efforts to build our Nordic real estate portfolio and further strengthen our regional footprint within logistics, comments Thorsten Slytå, Managing Director and Head of Nordic Real Estate at BlackRock.
- We look forward to developing these logistics assets with sustainability at the core in attractive areas in key and fast-growing logistic areas in Greater Stockholm and the Mälardalen region, concludes Anton Friling, Vice President and Head of Investments in BlackRock Real Assets’ Nordic real estate team.
The plan is to develop modern logistics targeting BREEAM Excellent and Miljöbyggnad Silver standards.
The properties will be constructed with flexible floorplans to allow for multiple tenants. Building permits have been granted and construction will begin immediately.
The Stockholm asset is a two-storey urban last-mile logistics development of approximately 16,500 sqm. The property, part of Botvidsgymnasiet 8, is located in Botkyrka municipality along the E4 highway, between Södertälje and Stockholm, in a prime last-mile logistics location. It is expected to be available to tenants from the fourth quarter of 2023.
The Enköping asset comprises a generic logistics facility of approximately 22,500 sqm. The property, Stenvreten 6:17, is located by the E18 highway, around 70 km north-west of Stockholm servicing Stockholm and the Mälardalen region. It is expected to be available to tenants starting from the second to fourth quarter of 2023.
Mannheimer Swartling and JLL acted as advisors to Slättö.
Linklaters and Pangea Property Partners acted as advisors to BlackRock Real Assets.
For further information, please contact:
Erik Dansbo, CIO and Partner
Tel: +46 70 775 60 69
Annachiara Torciano, Head of ESG and Communications
Tel: +46 76 696 25 88
Slättö is a partner-owned manager of alternative investment funds with focus on investments in Nordic real estate. The funds collectively manage assets of SEK +16 bn. Since inception in 2013, the firm has, with a strong track record, raised eight funds and executed more than 100 transactions with a total transaction value of SEK +30 bn.