Syftet med examensarbetet är att göra en marknadsjämförelse mellan logistikfastigheter och andra industrifastigheter sett utifrån investeringsrisk, belåningsgrad, avkastningskrav, hyreskontrakt och betydelsen av lokalisering. Intervjuer genomfördes med representanter från sex segment som är logistikfastighetsägande bolag/investerare, fastighetsägande bolag av industrilager & industriproduktion, värderingsinstitut/banker, mäklarbyråer, logistikföretag samt branschorganisationer/markberedare. Intervjuerna genomfördes mellan 17 april – 8 maj år 2015. Logistikfastigheter ses generellt som en bättre och säkrare investering än andra industrifastigheter i bankens synvinkel, då andra industrifastigheter kan vara så mycket olika slags fastigheter som däcklager, sågverk, industriproduktion som är osäkrare och har en sämre alternativanvändning än vad logistikfastigheter har, även om industrilager och logistikfastigheter inte skiljer sig jättemycket åt. Belåningsgraden ligger generellt lite lägre för andra industrifastigheter än logistikfastigheter och avkastningskravet ligger lite högre vilket tyder på att den generella risken är lite högre för andra industrifastigheter än för logistikfastigheter. Den generella åsikten hos fastighetsbolag med ägande av industrifastigheter och mäklarbyråer är att bankerna ställer höga krav på eget kapital. Förutom att ställa krav på eget kapital så vill bankerna gärna inte belåna till mer är 60 % av fastighetsvärdet och ofta inte mer än 50 %. Bankerna belånar ut till lägre belåningsgrad idag än den belåningsgraden som erbjöds för 7-8 år sedan. Logistikmarknaden är annars het och det är många aktörer som vill in på marknaden och nå logistikfastigheter med bra läge. Logistikfastigheter byggs numera på spekulation i Sverige, vilket i kombination med den låga räntan gör det förmånligt att investera i fastigheter som i längden kan öka konkurrensen. Det finns p.g.a. att logistikfastigheter byggs på spekulation risk för överetableringar av logistikfastigheter på olika platser i Sverige. De mest värdepåverkande faktorerna för logistikfastigheter är läget, hyreskontraktet och kassaflödet. / The aim of this dissertation is to do a market comparison between logistic and other industrial property from the perspective of investment risk, mortgage rate, yield, leases and the importance of location. Interviews were carried out with representatives from six segments which are logistic property owning logistic companies/investors, companies owning property of industrial- warehouse or production, assessment institutes/banks, property brokers, logistic companies and logistic development organization/property developers. The interviews were conducted between the 17 of April and the 8 of May 2015. Logistic property is in general seen as a better and safer investment than other industrial property in the banks point of view. Other industrial property can be many other kinds of property such as tire storage, sawmill, industrial production which can be high risk investment and have worse alternative usage than logistic property, although logistic property and industrial warehouses does not differ very much compared to industrial production property. The mortgage rate is lower for industrial property than it is for logistic property and the yield is higher which suggests that the general risk is higher for industrial property compared to logistic property. The general opinion of companies who own property for industrial warehouses and production and property brokers is that the banks have high requirements on equity. The banks do not want to mortgage more than 60 % of the property value and often not more than 50 %. The banks do not mortgage to same mortgage rate that they used to do for 7-8 years ago. The market for logistic property is otherwise hot and there are many players who want to enter the market and get logistic property in good locations. Logistic property are now being built on speculation, which combined with low interest rates making it advantageous to invest in property that may lead to increased competition. Due to logistic property is being built on speculation there is a risk of too high rate of establishment in some places in Sweden. The most value-influencing factors of logistics property is location, the lease, and cash flow.

The purpose of this thesis is to examine if there is processes that stand out whenmanaging a logistic real estate, both in terms of methods, transaction costs andresponsibilities.We used a qualitive method because it suited our open approach. We conducted foursemi-structured interviews. The respondents were selected based on their experience inthe logistic real estate industry.Based on this study’s empirical data it is read that real estate management has becomemore important during the last decades, and that there is many different ways to managereal estate, including logistic real estate. There is no template for how companiesmanage any kind of property. But that there are different standards in contract writing,risk management and way of thinking when it comes to logistic real estate.The studies contributed with showing that forthcoming verities in the industry, logisticreal estate sometimes differ with management methods compared to other properties.

No description available.