Catena has expanded its property portfolio with the acquisition of a logistics property in Horsens, Denmark, valued at approximately DKK 3.3 bn (€442.4 mln).
The property, formerly owned by transport and logistics solutions provider DSV Road Holding, is the largest logistics center in Denmark and one of the largest in Europe.
Catena acquired the property through a sale-leaseback transaction. The purchase price, adjusted for deferred taxes, was approximately DKK 698 mln (€93.6 mln). The acquisition was financed through a combination of internal funds and external financing.
The newly acquired facility, Mossvej 27-29, offers approximately 315,000 m2 of modern logistics space. It is expected to be certified to DGNB standards, with the warehouse receiving DGNB Silver and the office receiving DGNB Gold. The property’s roofs feature large solar cell plants with a total capacity of 35 MWp annually, making it self-sufficient.
Jörgen Eriksson, CEO at Catena, said: ‘We are happy that we have gained continued trust from DSV which will now be our largest tenant, with this deal we take another big step into Denmark and make it clear that we will be a player to count on in the Danish market.’
Brian Winther Almind, executive VP at DSV Group Property, commented: ‘DSV established a good dialogue with the Catena and we appreciate that they have both a long-term and innovative approach, I am confident that our continued co-operation will be rewarding.’
Mikael Tröjbom Johansen, regional manager Denmark at Catena, added: ‘Catena and DSV is a match made in heaven, especially in the field of sustainability where we both have high ambitions and strives for a leading position. Through co-operation and partnership, we create the conditions to find new, sustainable solutions that can make a big difference.’
As part of the transaction, Catena has entered into a 14-year lease with a DSV subsidiary, ensuring long-term occupancy. The property is located in a well-established logistics area and is very well connected to E45, one of the two most important highways in Denmark.
Catena expects a net operating surplus of approximately DKK 200 mln (€26.8 mln) from the newly acquired property. The company has also acquired two other properties from the same seller this year: Örja 1:22 in Landskrona and Tornbornahögen 7 in Helsingborg.
