Real estate investment trust WP Carey has made its first investment in Denmark with the acquisition of a portfolio logistics assets for DKK1.2bn ($188m).
The US firm said it acquired the core portfolio of 14 logistics assets and one corporate headquarters totalling 184,582sq leased to Danish freight carrier Danske Fragtmænd.
Details of the vendor were undisclosed.
WP Carey has been investing in the Nordics since 2001 and has acquired €800m of assets in the region, including assets in Finland, Sweden and Norway.
Arvi A. I. Luoma, the head of WP Carey’s European investments, said: “Denmark’s industrial real estate market is acutely under-supplied, so acquiring a high-quality logistics portfolio leased to one of the country’s top logistics companies was a rare and compelling opportunity.
“Recognized as a well-capitalized and efficient all-equity purchaser of long-term leased high-quality assets, we have a history of providing capital to institutional investors seeking to refocus their portfolios.”
Gino Sabatini, the head of investments at WP Carey, said: “Our 20-year track record of net lease investing in Europe positioned us to secure the Danske Fragtmænd portfolio in an off-market transaction.
“Our European investments are an important component of the diversification of WP Carey’s net lease portfolio, and this latest transaction reflects our continued ability to invest in Europe and identify long-term partners that are defined by the quality of their assets and operations.”