Catella's partly owned company Infrahubs sells logistics property in Norrköping

In June 2020, Catella announced the start of Infrahubs AB, a company owned together with the founders of the e-commerce company Royal Design. The objective of Infrahubs is to develop automated and modern logistics properties with sustainable solutions to meet the needs of the Swedish market. The first investment, in which Catellas’s ownership amounts to 50 percent, consists of the development of a logistics property of about 70 000 square meters in Norrköping, that is now completed. Today, Infrahubs has signed an agreement to sell the property to Allianz Real Estate, acting on behalf of Allianz Group companies, for approximately SEK 880 million after deduction of deferred tax. SEK 60 million of the purchase price is conditioned upon Infrahubs completing the installation of solar panels. The handover of the property is expected to take place during the second quarter of 2022.
 
The property is fully let to Postnord TPL AB with a 10-year lease agreement and an annual rental value of SEK 34 million. The property will have one of the Nordic region’s largest solar panel arrays when the installation is completed.
 
"This is the first sale of development projects Catella Principal Investments completes through partly owned Infrahubs. The interest in the property has been substantial and affirms the solid business model in developing a portfolio of modern and sustainable properties with long leases that we develop together with Infrahubs in Sweden” says Christoffer Abramson, CEO of Catella.