W. P. Carey has closed on the $188 million purchase of a core logistics portfolio in Denmark. Totaling 1,986,841 square feet, the purchase includes 14 logistics assets and one corporate headquarters. The portfolio is triple-net leased to Danske Fragtmænd A/S, the market-leading Danish freight carrier. The company was advised by EDC Erhverv Poul Erik Bech in the off-market transaction. The deal marks W. P. Carey’s first investment in Denmark and complements the firm’s existing Nordic portfolio. It’s been been investing in the Nordics since 2001, building up a portfolio worth approximately $1 billion in the region, including assets in Finland, Sweden and Norway.
Gino Sabatini, Head of Investments, W. P. Carey, said: “Our 20-year track record of net lease investing in Europe positioned us to secure the Danske Fragtmænd portfolio in an off-market transaction. Our European investments are an important component of the diversification of W. P. Carey’s net lease portfolio, and this latest transaction reflects our continued ability to invest in Europe and identify long-term partners that are defined by the quality of their assets and operations.”
