Swedish property company Sagax AB said on Monday it has agreed to acquire 13 properties in France for 480 million Swedish kronor, continuing its strategy of expanding its European real estate portfolio.
The properties are concentrated in the Paris, Lyon, Marseille, and Bordeaux regions and include 100,700 square meters of lettable area and 166,200 square meters of freehold land, the company stated in a release.
According to Sagax, the portfolio is fully occupied, generates an annual rental income of 55 million kronor, and has an average remaining lease term of 6.0 years.
The acquisition price represents an estimated net initial yield of 7.4%.
This deal marks another step in Sagax's ongoing expansion, which focuses on acquiring warehouse and light industrial assets across Europe.
It follows a 910 million kronor investment announced last week for properties in Spain, Germany, the Benelux region, and France.
Earlier this year, the company also invested 420 million kronor in properties that included a 131 million kronor allocation to France.
Sagax said the transaction is subject to a right of first refusal by French municipalities and is expected to close during the third quarter of 2025.
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