Northern Logistic Property is paying DKK 395 mln (EUR 53 mln) to acquire the headquarters and main logistic hub of the Danish global transport and logistics company DSV in Brondby. The deal is being financed with a loan of DKK 316 mln. 'This is an important step in NLP's growth into new markets. The DSV agreement demonstrates that NLP is an attractive partner for international companies in the logistic segment,' said NLP's CEO Göran Bengtsson. The investment reflects a net yield of 6.3%.

Northern Logistic Property is paying DKK 395 mln (EUR 53 mln) to acquire the headquarters and main logistic hub of the Danish global transport and logistics company DSV in Brondby. The deal is being financed with a loan of DKK 316 mln. 'This is an important step in NLP's growth into new markets. The DSV agreement demonstrates that NLP is an attractive partner for international companies in the logistic segment,' said NLP's CEO Göran Bengtsson. The investment reflects a net yield of 6.3%.

NLP's goal is to double its property portfolio to 1.3 million m2 and the growth 'will be based on the condition of acquiring properties that fulfil our stated investment criteria, including a sound capital return', he added. The property, Kornmarksvej 1, has a lettable space of approximately 47,500 m2, of which offices constitute 9,600 m2. DSV Road will let the entire property for six years, with a termination period of 18 months. The gross rent is DKK 26.7 mln, which will be 100% indexed, minimum 2.5% per annum.