Pictet Alternative Advisors (PAA) and Brunswick Real Estate have relaunched their industrial joint venture platform Lindu with a major deal in Denmark for eight last mile assets.
The transaction comprises a 75,000 m2 last mile logistic portfolio in key micro locations within Greater Copenhagen.
The portfolio benefits from prime access to Copenhagen airport, main highways and ring roads making the properties ideal for logistics and warehousing. Furthermore, the portfolio provides significant potential for improved ESG credentials, according to the venture.
In March, PAA and Brunswick successfully divested a portfolio of 14 industrial assets assembled for Lindu comprising approximately 85,000 m2 to Blackstone-managed funds.
The latest deal marks the relaunch of Lindu, matching its original scale with ambition to grow the portfolio further over the coming years according to both firms.
Linus Nilsson, head of Nordics at PAA, said: 'We have a strong belief that the Copenhagen last mile logistics market, underpinned by a robust Danish economy and strong tenant demand, will continue to perform well.
'Thus, we have decided to relaunch Lindu, our Copenhagen LML platform, together with Brunswick. Building on proven track record and the experience we have assembled over the last few years, our ambition is to create a high-quality portfolio in sought after locations, seeded by this significant initial transaction.'
Anthony Romano, partner and country head Denmark at Brunswick, said: 'I am very pleased with the solid partnership we have built with PAA. The team and I are confident that this relaunch will capitalize on the strong demand for strategically located logistics assets with development potential, enabling us to continue delivering value to our tenants and capital partner. We look forward to growing this portfolio over the coming years.'
