Catena purchases Danish logistics facility for €38m

Swedish real estate company Catena has inked a deal to purchase a logistics facility in Brøndby, Greater Copenhagen, Denmark from PFA Real Estate for DKK 285 mln (€38 mln). 

Catena

The 25,400 m² facility, situated on a 53,150 m² site in the desirable Priorparken industrial area, boasts excellent connectivity to Copenhagen's city centre, airport, and major highways, as well as rail access. 
Current tenant PostNord, a major postal and logistics operator, has a lease extending to 2035, generating an estimated annual net operating income of DKK 16.7 mln (€2.2 mln). 
The acquisition is being financed through Catena's internal resources and external borrowing.
The seller is a subsidiary of Danish pension company PFA Pension.
Mikael Tröjbom Johansen, regional manager Denmark at Catena, said: "We look forward to extending our collaboration with PostNord and further developing this logistics facility at the heart of the attractive Copenhagen region, an unmatched location for last-mile transportation and efficient city logistics."