Urban Partners has announced the divestment of more than €1 billion (c. £870m) of logistics assets across two separate transactions.
The larger of the two transactions, representing approximately €830m (c. £724m) of assets is due to close in April with Catena AB, a public logistics property company headquartered in Sweden.
The portfolio comprises 20 modern logistics properties totalling c. 600,000m² (c. 6,458,000ft²), located in established logistics hubs across Sweden, Denmark and Finland.
The second transaction, comprised of assets totalling 118,000m² (c. 1,270,000ft²), is being sold to Ontario Teachers’ Pension Plan, together with its operating partner, Fokus Nordic.
Urban Partners co-head of real estate and chief investment officer, Jani Nokkanen, said: “These transactions demonstrate Urban Partners’ ability to execute at scale and deliver strong outcomes for our investors, including through the largest Nordic, direct logistics portfolio sale in several years.
“In a market that is stabilising after a period of volatility, we have been able to generate liquidity by building high-performing portfolios with modern specifications, long leases and prime locations.”
