Real estate investor and fund manager Cromwell Property Group (“Cromwell”) today announced that it has acquired five logistics assets in the Nordics, spread across three separate transactions. These acquisitions are part of a new value-add investment mandate alongside global investment firm Carlyle (NASDAQ: CG), targeting logistics assets in Sweden, Denmark and Finland.
The assets, which total 25,000 sqm in aggregate, are situated in urban locations and national distribution hubs in Copenhagen, Aarhus and Kolding in Denmark, and Helsingborg in Sweden.
The European logistics market has experienced accelerated growth in recent years. There has been an increased shift towards e-commerce as a result of the Covid-19 disruption, accelerating demand for distribution logistics space serving metropolitan hubs.
The Nordics represents one of Europe’s most established markets for logistics assets and is supported by strong operating fundamentals.
Commenting on the acquisitions, Pontus Flemme Gärdsell, Head of Nordics at Cromwell Property Group, said: “With this mandate, we are looking to build a strong portfolio of logistics assets across the Nordic region over the next 12-18 months, focused on tapping into regional markets in Denmark, Sweden and Finland, where there is strong occupier demand supported by low vacancy rates.”