has added a fully-let 60,750sqm urban logistics facility in Denmark to its core European fund鈥檚 portfolio.
The Hines European Core Fund (HECF) has paid an undisclosed sum to buy Ventrupparken 3-5 in Greve from a company managed by the Nordic Investment Bank Pareto Securities.
This acquisition marks HECF鈥檚 seventh logistics purchase.
James Robson, a senior managing director in the Nordics at Hines, said: 鈥淲e are very pleased with the acquisition of Ventrupparken 3-5. It鈥檚 rare to find a logistics asset and site of this scale in such a central location.
鈥淭he planned Fehmarn Belt Tunnel will provide even greater connectivity to the rest of Europe and will strengthen Copenhagen鈥檚 position as the preeminent logistics hub in the Nordics.鈥�
Simone Pozzato, managing director and deputy HECF fund manager at Hines, said: 鈥淲e continue to broaden our exposure to the urban logistics and industrial sector, and this is a key asset for our fund鈥檚 logistics aggregation strategy.
Ventrupparken 3-5 is situated in a prime urban location with strong market fundamentals and has a major tenant in place on a long lease which marries with our strategy of targeting supply-constrained locations, in major European cities, with attractive long-term growth prospects.鈥�
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