EXCLUSIVE: Blackbrook debuts with last-mile asset in Denmark

European independent real estate investment firm Blackbrook Capital has acquired a modern last-mile logistics facility in Denmark, marking its first deal since the firm launched in March 2020.

Financial details were not disclosed.

The facility, located in the Capital Region of Denmark near Copenhagen, is majority leased to a major Danish logistics company, Danske Fragtmænd, subject to a long-term net lease.

Arvi Luoma, co-founder & CEO of Blackbrook, said: '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.'

The firm said that the deal was directly aligned with the firm’s objectives of focusing on mission-critical assets, including last-mile logistics, with creditworthy tenants in established European markets.

Luoma added: '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 added: '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.'

Lundgrens acted as Blackbrook’s legal counsel, and CBRE acted as advisor for the seller.

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