Hines has added a fully-let 60,750sqm urban logistics facility in Denmark to its core European fund’s portfolio.

The Hines European Core Fund (HECF) has paid an undisclosed sum to buy Ventrupparken 3-5 in Greve from a company managed by the Nordic Investment Bank Pareto Securities.

This acquisition marks HECF’s seventh logistics purchase.

James Robson, a senior managing director in the Nordics at Hines, said: “We are very pleased with the acquisition of Ventrupparken 3-5. It’s rare to find a logistics asset and site of this scale in such a central location.

“The planned Fehmarn Belt Tunnel will provide even greater connectivity to the rest of Europe and will strengthen Copenhagen’s position as the preeminent logistics hub in the Nordics.”

Simone Pozzato, managing director and deputy HECF fund manager at Hines, said: “We continue to broaden our exposure to the urban logistics and industrial sector, and this is a key asset for our fund’s logistics aggregation strategy.

Ventrupparken 3-5 is situated in a prime urban location with strong market fundamentals and has a major tenant in place on a long lease which marries with our strategy of targeting supply-constrained locations, in major European cities, with attractive long-term growth prospects.”

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