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Catena to acquire 5-asset, 1.1B kronor Stockholm logistics portfolio

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Catena to acquire 5-asset, 1.1B kronor Stockholm logistics portfolio

Catena AB agreed to acquire a five-property logistics portfolio in the Stockholm region with an underlying value of approximately 1.10 billion Swedish kronor from Kilenkrysset subsidiaries.

Catena will initially finance the acquisition using its cash and bank balances.

The purchase price will be paid in part via the issuance of 1,678,017 newly issued shares in Catena, translating to 4.49% of the total number of shares in the company, making Kilenkrysset one of the five largest shareholders in the Swedish real estate company.

The purchase consideration for the shares totals 608 million kronor, with 250 million kronor to be paid in the form of promissory notes.

The properties, which include Eskilstuna Källstalöt 1:6 and 1:7, Enköping Stenvreten 8:33, Sigtuna Rosersberg 11:81, Norrköping Statorn 31 and Sigtuna Rosersberg 11:116, encompass roughly 91.5 million square meters of gross lettable area with about 150,000 square meters of additional developable land, and have a remaining average lease term of 9.6 years.

As of Dec. 14, US$1 was equivalent to about 8.44 Swedish kronor.