Verdion secures first Nordics assets for VELF1 fund

Verdion has acquired two Danish assets for its VELF1 fund. The deals represent €30 million of investment in Denmark and the fund’s first two Nordics assets.

VELF 1 is focused on high quality logistics assets with value-add potential in strategic locations across Northern Europe. Around half its €310 million capital is allocated to Germany, with the remainder centered on the Nordics, Benelux and opportunistic investments in CEE.

Details of the new assets are as follows:

In an off-market transaction, Verdion has acquired L’Oreal’s distribution centre in Greve, Greater Copenhagen, from AP Ejendomme (part of Danish pension fund AP Pension). The 17,176 sq m facility is L’Oreal’s hub for distributing products to retail outlets across the Nordics and the company is currently investing significant capital to improve operational efficiency as its growth in the region accelerates. Gottlieb+Partners acted for the seller. Verdion’s lawyer was Bruun & Hjejle

In its second deal, Verdion has acquired a 10,925 sqm logistics facility in Frederikssund, northwest of Copenhagen, from Sydbank (on behalf of Ejendomsselskabet Frederikssund ApS). It is fully let to Haldor Topsøe, a global market leader in high-performance catalysts and proprietary technologies for chemical and refining industries. CBRE acted for the seller. Law firm Accura advised Verdion.

Simon Walter, Director of Asset Management at Verdion, said: “These deals underline our commitment to the Nordics and the investment opportunities this region presents. Complementing our development and asset management activity, they are the first in a  number of acquisitions we intend to make in the region over the coming months and years, with a priority on opportunities with strong covenants in strategic locations where there is potential for hands-on asset management.”

Verdion’s activity in the Nordics includes two major logistics parks close to Copenhagen. In September it announced plans to speculatively develop a €27.9 million logistics asset on the northern outskirts of Stockholm in partnership with Tritax EuroBox plc, which is set to complete in December 2022.

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