MG Real Estate sells additional logistics assets in Denmark to CBRE IM

CBRE Investment Management has completed two logistics real estate acquisitions in Denmark in deals with MG Real Estate.

The global real assets investment management firm said it acquired the remaining six logistics units at MG Park Greve in Copenhagen. The asset comprises 52,177sqm of warehouse space and 2,590sqm of office space. One logistics unit has already been completed, and five more are due to be developed.

CBER IM said the deal completes the acquisition of the 100,000sqm park. CBRE IM previously acquired five units comprising 51,903sqm.

The second deal with MG Real Estate involves units 3, 4 and 5 at MG Park Fredericia. The asset comprises 26,789sqm of warehouse space and 1,685sqm of offices.

CBER IM said the deal concludes a series of three transactions for the joint venture in 2022, totalling nearly 60,000sqm.

With the transactions closed in 2022, the joint venture now comprises 150,000sqm of prime logistical space, CBRE IM said. CBRE IM manages €14.7bn of logistics assets across 8.5m sqm of space in 13 countries.

Justine Weber Bret, director of asset management and transactions logistics in the Nordics at CBRE Investment Management said: “With strong occupier fundamentals and resilient demand for logistics space in Denmark, we are delighted to have acquired these logistics assets. Denmark has been experiencing strong fundamentals over the past 24 months and we believe these state-of-the-art warehousing assets will deliver stable and resilient income for our funds.”

Ignace Tytgat, CEO of MG Real Estate, said: “Despite these challenging times due to geopolitics, long-term structural shifts and macro-economics, this strategic partnership confirms MG Real Estate’s ambition to strengthen the growth in our logistics portfolio.

“To establish and strengthen long-term relationships with tenants, MG Real Estate keeps property management in-house. The joint venture with CBRE Investment Management is therefore the right approach.”

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