M&G acquires logistic property outside Stockholm

NCC has divested a logistics development in Brunna, outside of Stockholm, to a fund managed by M&G Real Estate for SEK 190 million. The property, Lyckobrunnen, entails roughly 12,800 sq.m. and is currently fully leased to Orvelin Group, Cosentino and Engelmanns.

”We are delighted to have acquired this recently developed logistics property for our pan-European core fund M&G European Property Fund. In today’s market, where logistics portfolios are traded with a premium, we prefer to acquire single assets in order to deliver higher returns to our investors,” commented Thorsten Slytå, head of Nordics at M&G Real Estate.

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