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SEB Asset Management let more than 600,000 sqm in 2011 – up 16 percent year-on-year
SEB Asset Management let approximately 602,700 sqm of its global property portfolio, which comprises nearly 3.3 million sqm in total, in 2011. This corresponds to a 16.3 percent increase in terms of space compared to 2010. Together, the 661 individual leases account for 18.5 percent of the total space, resulting in aggregate estimated net rental for the year of EUR 112.4 million.
One of the most recent leasing successes last year is an extension to a lease in the Netherlands. Access Business Group, a sister firm of direct selling company Amway, extended its lease for a facility measuring 22,720 sqm ahead of schedule for five years plus an option for an additional five years. The property is located in Venlo at the largest Dutch container train terminal, close to the German border. The logistics company uses the property as its main warehouse and sales centre for delivering products to 25 European countries. The commercial property, part of the portfolio belonging to open-ended real estate fund SEB ImmoPortfolio Target Return Fund, has been fully let since it was acquired in 2007. Savills Agency B.V. and RealEffect NL acted as the agents for the deal.
Aufwind Nuevas Energias, the Spanish subsidiary of a leading project developer for renewable energies, has leased a photovoltaic facility on roof space measuring approximately 76,600 sqm located near Madrid. The company develops, operates and sells megawatt-class solar power plants in Spain. The lease term is for 25 years. The roof space extends over three properties that have belonged to SEB Asset Management’s property portfolio since 2008. The properties are let to DHL and Spanish retail chain Eroski, among other tenants.