de Morgan & Co, acting on behalf of Ness Risan & Partners (NRP), one of the largest logistics specialists in the Nordic region, has structured the sale of €300 million of logistics assets to Cordea Savills’ newly created Nordic Logistics Fund, with properties located across Sweden, Norway, Denmark and Finland.
The portfolio comprises approximately 310,000 sq.m. of modern logistics facilities, let to tenants such as El Giganten, DHL, TATA Steel, Ahsell and Prime Cargo, with an average unexpired lease term in excess of 10 years, and also includes El Giganten’s giant Nordic distribution hub at Jönköping. NRP, whose two Norwegian Property Funds were advised by de Morgan & Company, will continue to manage the portfolio, together with Cordea Savills.
Simultaneously, and acting on behalf of Middle Eastern investors, de Morgan & Co has acquired for €50 million the Onninen Head Quarters on the Berger Business Park, Oslo.
On behalf of its investor clients, de Morgan & Co has structured over €1.5 billion of transactions in the Northern European logistics sector over the last two years.
de Morgan & Co structured a joint venture between Helios Europe, Shepherd Developments and SEGRO, to develop the UK’s largest rail linked Inland Port project. Work on this £400 million development commenced in the autumn of 2013. As well as structuring the transaction, de Morgan & Co was retained as Investment Advisers.