Newsec and Logicor to enter into a property management service agreement

The agreement covers more than a million square metres

Newsec and Logicor to enter into a property management service agreement covering more than a million square metres

13.6.2019

Newsec and Logicor, Europe's largest owner and operator of modern logistics and warehouse properties, have entered into a significant property management service agreement.

The service agreement includes all of Logicor's approximately 80 properties in Finland, covering a total area of more than a million square metres.

"We started negotiations with Logicor in the spring and quickly came to an understanding regarding the service package.  I am thrilled that we can offer Logicor high-quality property management services," says Miro Karttunen, Head of Newsec Property Asset Management Finland.

Newsec provides a similar service package for Logicor's 200,000 m2 portfolio in Sweden. 

"We were looking for a comprehensive property management service and have been very satisfied with our cooperation in Sweden. We are looking forward to our cooperation in Finland as well as a potential synergy between our Finnish and Swedish operations," says Jorma Lehtonen, Managing Director of Logicor Nordics.

The new agreement includes technical management, lease management, leasing and project management services. Logicor's property portfolio comprises significant properties all over Finland, which are supported by Newsec's wide network of regional offices.

"Property investments require local presence and expertise. Newsec's wide network of offices plays a crucial role in this," says Lehtonen.

This client relationship will widen Newsec's network even further.

"We will be opening an office in Lahti in the autumn, and decisions regarding other new offices will be made then. I believe we will be opening two or three new regional offices early next year at the latest," says Karttunen.

Further information:
Miro Karttunen
Head of Property Asset Management
Newsec in Finland 
Tel. +358 40 193 1042
miro.karttunen@newsec.fi

Jorma Lehtonen
Managing Director
Logicor Nordics
Tel. +358 500 708 222
jorma.lehtonen@logicor.fi 

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 1 800 co-workers spread across the seven Nordic and Baltic countries. In 2018, Newsec opened a London office to assist international investors interested in the Nordic and Baltic region.

Newsec has approx. EUR 45 billion under management and annually signs lease agreements of approx. 1 million square meters, manages transactions of some EUR 3.3 billion and does real estate valuations of underlying property worth almost EUR 165 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in Northern Europe. The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Logicor is the largest owner and operator of modern logistics and distributions properties in Europe with a lettable area of approximately 13.6 million square metres located in key European logistics markets. Logicor is headquarted in London and Luxembourg.

In the Nordic countries (Finland and Sweden), Logicor manages 86 properties along the most significant logistics routes with a lettable area of approximately 1.3 million square metres. Logicor offers customer-driven logistics and warehouse properties by developing existing properties or constructing new ones. Logicor's Nordic offices are located in Helsinki, Tampere and Stockholm.

Find out more: www.logicor.fi