Nordic specialist investor Genesta has acquired a 20,600 m2 logistics property under construction in Solrød, Denmark, for DKK 220 mln (€29.5 mln)
The off-market transaction was completed with turnkey logistics facility developer Logistic Contractor, a part of Wästbygg Group.
The building will be developed with a strong focus on sustainability, in line with EU taxonomy and aiming for BREEAM Excellent certification.
Preparatory groundwork and detailed planning will commence this autumn, with Genesta taking ownership of the property at the end of 2024.
Logistic Contractor recently acquired 48,000 m2 of land adjacent to motorway E20 for the project.
David Neil, CEO of Genesta, said: ‘We are delighted with this acquisition, which aligns perfectly with our fund strategy. In partnership with Logistic Contractor, we will develop an impressive logistics facility in an excellent location.’
Benn Karlberg, CEO of Logistic Contractor, added: ‘It is excellent to secure another project with Genesta. This autumn, we will hand over Enköping Logistikcenter, an 80,000 m2 logistics facility, to them. While this building is not as large, it shares similarities in its design.’
The property is located in one of the most sought-after logistics hubs in the Nordics, next to E20 highway, offering last-mile deliveries to Copenhagen and connections to the rest of Denmark, Sweden and Europe.
This is Genesta's sixth logistics acquisition in the past two years, in addition to properties in Örebro, Enköping, Jönköping, Ljungby, and Brunna.
Lundgrens and PwC advised Genesta on the transaction, while LC’s advisors were Gorrissen Federspiel and Grant Thornton.