Colliers advises Manova and Vestas on logistics refinancing in Sweden

Colliers has acted as advisor to Manova Partners and Vestas Investment Management, a leading Korean asset management company, in connection with a SEK 620 million refinancing of a portfolio comprising two Swedish logistics properties in Jönköping and Norrköping, managed by Manova Partners.

The financing was provided by an international lender.

– Our Swedish Terminus portfolio fits well with our ongoing investment strategy, and the new financing enables us to implement our leasing strategy and further asset management initiatives in order to achieve our long-term returns, says Dominik Leopold, Debt Finance Manager at Manova Partners.

The logistics facilities are located in Jönköping and Norrköping, within Sweden’s so-called logistics triangle, with proximity to major transport routes such as the E4 and E20, as well as access to rail and port infrastructure. The transaction was completed in a market environment with strong recovery from the hesitancy of the post-2022 period.

– Even though the logistics market is seeing higher vacancy levels, there is strong financing interest in good assets located in established logistics hubs. In this case, it was crucial to align the client’s strategy with a lender that takes a long-term view of the logistics sector, says Viggo Bekker Ståhl, Head of Structured Finance & Debt Advisory at Colliers Nordics.

Colliers was responsible for the debt advisory mandate and also carried out technical and environmental due diligence. The Colliers team consisted of Viggo Bekker Ståhl (Sweden) and Diana Constable (EMEA), with additional support from Harold Lee (Korea), Ben Thomason (EMEA), Andrew Sohn (Korea) and Laurence Richardson (EMEA). Marcus Wroe led Colliers TEDD team.