European logistics real estate specialist Verdion has secured a new €33.5 mln opportunity close to the Danish city of Horsens as the first asset in its Verdion European Logistics Fund 2 (VELF2).
The 57,178 m2 property is located in Business Park Vega, part of the city’s emerging western logistics cluster, with construction of a 28,112 m2 warehouse now underway. The opportunity was acquired from Jutland-based Mortensen Gruppen.
Around 12,800 m2 has been pre-let to established ladieswear brand Zizzi, which is relocating from Billund. The remaining 15,000 m2 is available to lease, providing high-quality warehousing, offices and welfare areas.
Verdion will develop the new facility with a focus on energy efficiency and targeting the DGNB Gold sustainability rating, with completion planned for May 2024.
Michael Hughes, CEO of Verdion, said: 'This was an attractive opportunity in a strategic logistics location with strong growth potential and the ability for Verdion to deliver high-quality warehousing with strong ESG credentials. It is the first of a number of acquisitions we expect to make in Denmark, Sweden, Germany and the Netherlands over the next three years as part of our VELF2 value-add fund.'
VELF2 has a value-add strategy to reposition existing assets into future-proofed core properties in established Northern European logistics locations. It has recently announced initial closings totalling €75 mln sourced exclusively from investors in the first vehicle of the VELF fund series.
Verdion’s first fund VELF1 reached final close in 2020, having raised €158 mln. It is now fully invested and, together with debt, has deployed €310 mln on the acquisition and enhancement of eleven logistics assets across Germany, the Netherlands, Denmark and the Czech Republic.