Hi!
Last week, we published an Equity Brief on Logistea in connection with the company’s Q3 report, which is available in Swedish, Finnish, Danish, and English.
In short, Logistea makes money from rents. The company mainly acquires fully leased properties with long leases, manages them with its own staff, and carries out extensions or new builds together with the tenants. As of Q3’26, the economic occupancy rate was 97.5% and the average remaining lease term was 8.6 years, creating conditions for long-term predictable cash flows. Most agreements are triple net leases, meaning the tenant pays for electricity, heating, property tax, and maintenance themselves, and approximately 98% of the contracts are inflation-indexed. An interesting aspect of the business model is that the clients, primarily within the light industrial segment, have usually invested in their own production equipment within the properties. Relocating is therefore both costly and time-consuming for the tenant, contributing to long lease terms and a low churn rate.
The stock rose late last week in connection with the Q3 report, but around the time we released the Equity Brief, the discount to NAV was approximately 30%.
I’d be happy to continue discussing the company!
You can read the full Equity Brief here:
Swedish: Aktiebrief: Logistea - Inderes
Finnish: Osakebriiffi: Logistea - Inderes
Danish: Aktiebrief: Logistea - Inderes
English: Equity Brief: Logistea - Inderes