Blackbrook Capital has acquired a 42,000 sqm cross-dock logistics facility near Copenhagen, leased to a market-leading Danish freight company, Danske Fragtmænd. This marks the second transaction for Blackbrook in Denmark. The transaction price was not disclosed.
The 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. The facility has been subject to substantial capex improvements in recent years and was most recently expanded in 2020.
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.
Arvi A. I. Luoma, Co-Founder & CEO of Blackbrook, said: “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.”
Luoma continued: “This transaction marks our second acquisition in Denmark and leased to a credit-worthy tenant we know well and trust, and which is evolving their business to support a greener future. The facility is clearly mission-critical for the provision of same-day delivery capabilities across Denmark and particularly for the Greater Copenhagen area.”