Pan-European investor and asset manager M7 Real Estate and alternative investment manager Centerbridge have jointly purchased a logistics property in Fredericia, Denmark.
The asset has been purchased on behalf of their €250 mln industrial outdoor storage venture targeting assets in Continental Europe.
The newly acquired 57,400 m² property at Snaremosevej 63-65 and Blytäkkervej 1 was formerly a PostNord distribution center. It offers approximately 40,100 m² of outdoor storage space and 17,300 m² of indoor logistics and office space. The property is currently vacant and available for lease.
The Fredericia property benefits from its location in Jutland's prime Triangle Area logistics hub, offering easy access to the E20 motorway and Fredericia Harbor.
Mikkel Seitzberg Mikkelsen, managing director at M7 Real Estate in Denmark, commented: ‘Alongside our partner, Centerbridge, we see an attractive opportunity in the IOS subsector of the industrial and logistics market in Denmark, primarily driven by the growth of e-commerce and the consolidation of global supply chains. This JV aims to seize an opportunity to be an early mover in this subsector across Europe, including in Denmark where we have an on-the-ground team and asset management expertise. Having completed two acquisitions in Denmark for the JV, we have established a strong foundation and are exploring a robust pipeline of opportunities as we continue to grow a scalable institutional platform across Europe.’
The acquisition of the Fredericia property is the joint venture’s second in Denmark, growing its total portfolio to approximately 92,000 m², including 70,000 m² of outdoor storage and 22,000 m² of warehouse/office space. The venture focuses on urban IOS assets with high industrial and logistics activity and strong transport links.
PropCon’s Jes Rovsing, Nova Ambiente, Savills, and Plesner advised M7 on the acquisition. EDC Poul Erik Bech Erhverv advised the seller.
