Genova Property Group AB has entered into an agreement to acquire a property portfolio in the Stockholm region consisting of eight properties. With a leasable area of approximately 19,000 square meters, the properties have rental income from operations in grocery retail, healthcare, community services, offices, industrial and logistics properties. The properties are fully let, and the average remaining lease term is approximately 7 years. Closing of the acquisition is subject to FDI approval and is expected to be completed on 1 September 2026 except for Gustavsberg 1:468, where closing of the acquisition is expected to occur in December 2026 once the ongoing tenant modifications have been completed. The sellers are the private property companies Landia and Landera.
The acquisition is financed through a combination of bank loans, available cash, as well as through a transfer of ordinary shares and new issue of ordinary shares in Genova to Landia corresponding to a total value of approximately SEK 124 million.
KANTER advised Genova on the transaction.