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Cibus: Stepping up acquisition pace with EUR 25.5m acquisition of three properties - Nordea

Cibus has today (14 May) signed the acquisition of three assets in Finland for EUR 25.5m with a lettable area of 16,000 sqm and an average lease maturity of seven years. The assets are located in the Jyväskylä, Turku and Mikkeli regions. The largest asset is located in Muurame, Jyväskylä region, and has Lidl and HalpaHalli as anchor tenants. The other two assets are anchored by S-Group. Cibus targets EUR 50-100m in acquisitions annually, and during Q1 only EUR 9m was acquired, so Cibus is stepping up the acquisition pace, as we expected. Positive also that the tenant base becomes more diversified with Kesko’s share declining slightly. We expect a net yield of 6.5% on the acquisitions and a +2.3% impact on net rental income.

Cibus has today (14 May) signed the acquisition of three assets in Finland for EUR 25.5m with a lettable area of 16,000 sqm and an average lease maturity of seven years. The assets are located in the Jyväskylä, Turku and Mikkeli regions. The largest asset is located in Muurame, Jyväskylä region, and has Lidl and HalpaHalli as anchor tenants. The other two assets are anchored by S-Group. Cibus targets EUR 50-100m in acquisitions annually, and during Q1 only EUR 9m was acquired, so Cibus is stepping up the acquisition pace, as we expected. Positive also that the tenant base becomes more diversified with Kesko’s share declining slightly. We expect a net yield of 6.5% on the acquisitions and a +2.3% impact on net rental income.
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