UK institutional investor Standard Life Investments has acquired all the real estate of Danish freight forwarding business Danske Fragtmænd in a sale-and-leaseback transaction valued at €130 mln.
UK institutional investor Standard Life Investments has acquired all the real estate of Danish freight forwarding business Danske Fragtmænd in a sale-and-leaseback transaction valued at €130 mln.
CBRE has been working for some time to find a buyer for Danske Fragtmænd's properties and the sale comes amid increasing interest among foreign investors for Danish real estate.
'There is strong growth in the international market for logistic properties and we are obviously happy to have Standard Life Investment for this investment opportunity that they, like us, have found very interesting, said Jesper Damborg at Capital Investment, which advised SLI.
Outlining reasons for the sale, Kjeld Frederiksen, CEO of Fragtmænd Holding, the seller of the assets, explained: 'Danske Fragtmænd is a transportation company and not a real estate company. We want to focus on our core business, and through this divestment we are freeing up funds and adding to our financial flexibility.'
