Lineage Logistics Enters Nordic Region Through Acquisition of Greater Copenhagen Property

Novi, MI – June 29, 2020 – Lineage Logistics (“Lineage”), the world’s largest and most innovative provider of temperature-controlled logistics, has entered the Nordic region of Europe with its acquisition of the Kanalholmen 15 (“Kanalholmen”), a large cold storage facility located in the industrial area of Avedøre Holme in Hvidovre. Commercial real estate adviser CBRE (NYSE:CBRE) represented the seller and served as the transaction broker. Terms of the deal were not disclosed.

The Kanalholmen 15 property totals 22,000 square meters, and further expands Lineage’s real estate portfolio in Europe.  Similar to other properties that Lineage owns around the world as a Real Estate Investment Trust (“REIT”), this facility is leased to a third-party operator.   Separately, Lineage operates over 300 temperature-controlled logistics facilities across North America, South America, Europe, Asia, Australia and New Zealand. This acquisition, along with the Company’s plans for future acquisitions in the Nordic region, contributes to the strategic expansion of Lineage’s facility network across Europe

“Since our founding in 2008, Lineage has not only worked to build the industry’s most diverse and best positioned facility network in service of our customers’ global supply chains, but also targeted and acquired real estate assets that add value to our overall cold storage portfolio,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “We entered the European market in 2017, have steadily built Lineage’s European presence and have long wished to enter the Nordic market – this transaction has allowed us to do just that.”

“Lineage and the firm’s private equity owner, Bay Grove, are great partners to welcome into the Nordic logistics market. Their skills and sharp focus on temperature-controlled properties means that they have great potential for acquiring similar properties in both Denmark and the whole of the Nordic region in the longer run,” says Peter Michael Tetzlaff, Associate Director for Investment Properties at CBRE Capital Markets.

The Avedøre Holme area is expected to become one of Northern Europe’s largest business districts when plans for the area are completed in 2035. The strategic location – 14 kilometers from Copenhagen City Hall as well as Copenhagen Airport – and easy access to road infrastructure, make the area an attractive choice for both Danish and foreign transport and logistics companies.

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About Bay Grove

Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)


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