New €1b firm to target sheds, alternatives and more in Europe

Arvi Luoma, formerly of WP Carey, and Gordon DuGan, formerly of Gramercy Property Trust, have joined forces to launch a new pan-European venture focusing on single-tenant commercial real estate properties in a range of asset classes. 

Dubbed Blackbrook, the firm has launched with more than €1 bn in capital commitments from Connecticut-based Eldridge Industries. The founders of Blackbrook, DuGan and Luoma, will take on the roles of chairman and CEO, respectively.

Headquartered in London, Blackbrook will acquire single-tenant net leased assets and offer build-to-suit financing and sale and leaseback solutions.

The firm's primary focus is on industrial assets including logistics, light manufacturing, cold storage and similar assets used in the distribution and delivery of goods throughout Europe, as well as healthcare, hospitality, strategic office and specialty retail assets.

'We believe that commercial real estate owners and occupiers are better served investing their capital in their core business activities and growth initiatives, rather than tying up valuable capital in real estate assets,' said Luoma.

'Our investment approach is geared towards helping our tenants do just that, and give them ability to grow their businesses and improve their assets by extracting value. Today, that can often mean a drive to transition businesses and real estate portfolios towards a greener and more sustainable future. Blackbrook is also committed to being part of that transition with our tenants,' Luoma concluded.


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