Allianz Real Estate has expanded its European logistics platform with the acquisition of assets in Denmark and Sweden.

The asset manager is acquiring three assets in a sale and leaseback deal with Danish transport and logistics firm DSV for an undisclosed amount.

The 211,000sqm portfolio comprises two recently completed properties in Denmark and Sweden with the third property in Denmark expected to be completed in the fourth quarter of this year.

Thomas Villadsen, director of Nordics and CEE at Allianz Real Estate, said: “This is a compelling opportunity to secure three exceptional logistics assets in an off-market deal with a prime tenant in two of Europe’s most exciting markets. Stockholm and Copenhagen continue to need modern facilities, with historically low vacancy rates creating opportunities.”

As of the end of the first quarter of the year, the total assets under management in Allianz Real Estate’s global logistics portfolio reached €12.6bn, with €6.4bn in Europe. This was up from €11.6bn as of the end of 2021.

Annette Kroger, CEO, North and Central Europe at Allianz Real Estate, said: “Even with record transaction volumes in 2021, a supply-demand imbalance persists in the logistics sector. It continues to be a high-conviction theme for us, with the acceleration of ecommerce resulting in record demand.

“These positive fundamentals combined with our expertise, market relationships and ability to transact means we are well placed to deliver value-add investments for our clients.”

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