Blackbrook Capital, the firm formed in March by industry veterans Arvi Luomo and Gordon DuGan, has made its first purchase, a modern last-mile logistics facility in Denmark. The transaction price was not disclosed but Luomo said he is expecting growth of both rent and capital value.
Located near Copenhagen the facility is mostly let to market-leading Danish logistics company, Danske Fragtmænd on a long-term net lease.
Blackbrook said in a statement that the deal is is directly aligned with the firm’s objectives of “focusing on mission-critical assets, including last-mile logistics, with creditworthy tenants in established European markets.”
Arvi Luoma, the co-founder & CEO of Blackbrook who previously was with WP Carey for 14 years, said: “Denmark’s industrial real estate landscape has many attractive fundamentals. There is a significant supply and demand imbalance for quality logistics assets, including last-mile facilities.
“With increasing e-commerce penetration, tenant requirements for modern and eco-friendly real estate, and generally constrained opportunities to develop new sites, we expect the Danish market to experience both robust rental growth and asset value appreciation over the long-term.”
Blackbrook Capital specialises in the acquisition of net lease property assets, sale-and-leaseback and build-to-suit development financing particularly in the logistics, light manufacturing, cold storage, healthcare, hospitality, strategic office and specialty retail sectors.