SAGAX INVESTS SEK 480 MILLION IN FRANCE

Sagax has acquired 13 properties in France for the equivalent of SEK 480 million. The properties comprise a lettable area of 100,700 square metres and 166,200 square metres of freehold land. The property portfolio is concentrated to the Paris, Lyon, Marseille and Bordeaux regions.

The annual rental income amounts to the equivalent of SEK 55 million. The occupancy rate is 100% and the average remaining lease term is 6.0 years. The acquisition price is equivalent to an estimated 7.4% net initial yield.

In France, municipalities have a right of first refusal regarding property transactions. Necessary approvals are expected to be obtained and closing is expected to take place during the third quarter of 2025.