A fund managed by Storebrand Asset Management has purchased a newly constructed logistics centre in Borås, Sweden, from a joint venture between Nordic textile and home interior chain Kid and Norwegian real estate operator Fabritius.
The logistics asset was acquired for over SEK 600 million (€51.9 million). The 57,000 square meters facility is designed to support Hemtex and Kid's retail operations throughout the Nordics and Baltics, as well as their growing e-commerce business in Germany and Europe.
Situated on a 89,000 square meters site in Borås, 45 minutes from Gothenburg, the 585,000 square meters facility is leased to Kid/Hemtex for over 20 years at a below market rent. Construction is in two phases, with the second phase due for completion in January 2025.
Source: propertyeu.info on the 4th of December