Real estate company Logistea has taken possession of an industrial property in Kempele, outside Oulu, Finland, through the acquisition of the property-owning company Bico Real Estate from medical technology firm Bico. The agreed property value amounts to SEK 38 million.
The property, constructed in 2024, comprises approximately 4,032 square meters of manufacturing and warehouse space and is fully leased to energy storage company Cactos.
The annual rental income amounts to approximately SEK 4.5 million. The lease agreement runs for about nine years, with a break clause after around four years. The tenant is responsible for all operating costs. The acquisition is financed with internal funds.
Bico states that the transaction will generate a positive cash flow contribution during the first quarter of this year. The sale price is estimated to represent a 10 percent premium compared to the book value.
BICO Group AB, previously Cellink AB is a Sweden-based company, which is primarily involved in the healthcare industry. The Company focuses on the application areas of bioprinting, multiomics, cell line development, and diagnostics. The Company develops and markets technologies that enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. The Company’s operations divided in two segments: The Industrial Solutions segment that offers products within precision dispensing and biosensor technology for industrial customers, which make a high-capacity contribution to customers production; and The Laboratory Solutions segment that offers 3Dprinters, single- cell and liquid- dispensing instruments as well as services and consumables related to these products.
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