Blackbrook Capital has acquired a 42,000 sqm cross-dock logistics facility near Copenhagen. The transaction price was not disclosed.
This marks the second transaction for Blackbrook in Denmark. The property is leased to a market-leading Danish freight company, Danske Fragtmænd.
The logistics facility, subject to a long-term triple-net lease, is a high throughput cross-dock logistics asset located in a prime industrial location west of Copenhagen city centre. The large site has excellent infrastructure connections with close proximity to arterial roads linking the entire of Denmark, Sweden via the Oresund bridge, and Germany.
Owing to constrained supply from a lack of existing high quality logistics assets vacancy rates remain low in Denmark. Coupled with limited availability of land parcels, stringent permitting near conurbations, and high construction costs, relocation and speculative development are uncommon, while demand continues to rise in line with pan-European trends.
“The fundamentals for this asset were compelling; a rare opportunity to secure a large logistics site in a prime Copenhagen location and in line with replacement cost. We expect that increased demand for this type of real estate will ensure asset value preservation for the long-term. This acquisition is perfectly aligned with our core strategy of investing in high-quality industrial net lease real estate across Europe,” said Arvi A. I. Luoma, Co-Founder & CEO of Blackbrook.
Blackbrook was advised by Lundgrens, CBRE, NIRAS and E&Y. The seller was not disclosed