Blackbrook Capital acquires last-mile logistics facility in Denmark
Blackbrook Capital (Blackbrook) has acquired a modern last-mile logistics facility in Denmark. The transaction price has not been disclosed.
The facility, located in the Capital Region of Denmark near Copenhagen, is majority leased to a market-leading Danish logistics company, Danske Fragtmænd A/S (Danske Fragtmænd), subject to a long-term net lease.
This acquisition marks Blackbrook’s first transaction since its launch in March 2020 and is directly aligned with the firm’s objectives of focusing on mission-critical assets, including last-mile logistics, with creditworthy tenants in established European markets.
With a history dating back more than 100 years, Danske Fragtmænd is the leading freight carrier for business-to-business general cargo in Denmark. Danske Fragtmænd has 40,000 regular business customers and handles 9.5 million consignments per year via its 26 freight terminals and 2,000 trucks. It has the largest real estate network of its kind in Denmark with the unique ability to guarantee 24 hour and overnight delivery across the country, and same-day delivery from Copenhagen and Aarhus.
Lundgrens acted as Blackbrook’s legal counsel, and CBRE acted as advisor for the seller.
Arvi A I Luoma, Co-Founder & CEO of Blackbrook, says: “We are pleased to announce our first acquisition as a newly-launched investment firm. Denmark and the Nordics as a whole are markets we are highly experienced in, and we look forward to working closely with Danske Fragtmænd as the business develops on its leading market position. This transaction demonstrates that we can move quickly and opportunistically in the current challenging market environment, to secure acquisitions that meet our investment criteria and approach, as well as the timing requirements of our counterparties.
“Denmark’s industrial real estate landscape has many attractive fundamentals. There is a significant supply and demand imbalance for quality logistics assets, including last-mile facilities. With increasing e-commerce penetration, tenant requirements for modern and eco-friendly real estate, and generally constrained opportunities to develop new sites, we expect the Danish market to experience both robust rental growth and asset value appreciation over the long-term.”
Christian Bro Jansen, Head of Capital Markets at CBRE Denmark, adds: “We are pleased to have secured a qualified and professional investor for this recently developed asset. We would like to thank all parties involved for facilitating the deal and closing this transaction quickly, and on an all-equity basis, despite the current economic climate.”