Swedish Logistic Property

• Capital increase via Accelerated Bookbuild Offering of 31,428,572 class B shares, corresponding to c. 14% of the company’s pre-deal outstanding share capital and generating gross proceeds of SEK 1.1 billion (c. €97 million) for Swedish Logistic Property (“SLP”)
• Upsized from SEK 1 billion to SEK 1.1 billion due to strong investor demand. The new shares were placed at SEK 35 per share at a discount of 4.9% vis-à-vis the closing price prior to transaction announcement and a 30% premium to last reported NAV
• Launched following a market sounding exercise that resulted in indications of interest well in excess of the deal size solely from wall-crossed long-only investors
• More than 90% of the order book, which was multiple times covered, was allocated to long-only investors and more than 60% of the shares were allocated to international investors
• The transaction marks SLP’s largest capital increase to date
• SLP intends to invest the proceeds in property acquisitions, new construction projects, renovations, extensions and energy-saving projects; the company expects to deploy the proceeds of the transaction in 6-9 months
• Following the fundraising of Swedish logistics company Catena a week earlier, this transaction underpins Van Lanschot Kempen’s ability to support European Real Estate companies in successful equity capital market issuances

SLP is a real estate company that acquires, develops, and manages logistics properties with sustainability in focus. The company has an active acquisition strategy, averaging one acquisition per month since the beginning of 2019. Since the IPO in March 2022, SLP has completed 25 acquisitions for a total value of approximately SEK 3.5 billion and invested approximately SEK 1.4 billion in existing properties and new projects. SLP targets to acquire properties with development potential to further increase its net operating income.

This transaction adds to Van Lanschot Kempen’s list of achievements in the European Real Estate Logistics sector. More specifically, this capital increase marks Van Lanschot Kempen’s nineteenth Logistics Real Estate transaction since 2020. The aggregated deal volume since amounts to c. €5.4 billion, among which:

• SEK 10 billion of capital increases by Catena
• €800 million of accelerated bookbuild offerings by WDP
• €150 million accelerated bookbuild offering by Argan
• €126 million accelerated bookbuild offering by Montea
• €625 million green loan raise by DHG
• €1.2 billion public takeover of Deutsche Industrie REIT-AG by CTP, advising CTP
• €480 million of capital increases by Tritax EuroBox
• €948 million initial public offering by CTP