Areim Acquires Six-Property Light Industrial Portfolio in Greater Copenhagen

Nordic real estate investment manager Areim has acquired a six-asset light industrial portfolio in Greater Copenhagen, Denmark, comprising approximately 44,000 square meters of lettable area and 12,000 square meters of industrial outdoor storage. The transaction, which closed Sept. 1, 2026, was purchased from opportunistic funds managed by Blackstone and Mileway.

The portfolio is 93 percent let to approximately 30 tenants operating across a broad range of sectors, providing a diversified, multi-tenant income stream with limited near-term lease-up risk and some remaining vacancy upside.

Portfolio Locations and Property Profile

The six properties are situated in established industrial areas across Skovlunde, Roskilde, Brøndby, Rødovre, and Avedøre Holme — all within the Greater Copenhagen metropolitan area. The locations benefit from strong accessibility and direct connections to major roads serving central Copenhagen and the wider region.

The assets offer flexible premises suited to light industrial operations, production, warehousing, and last-mile distribution. Skovlunde sits northwest of central Copenhagen in a traditional industrial and business corridor with access to major arterials. Roskilde, a regional city to the west, anchors an established industrial and logistics cluster serving Greater Copenhagen. Brøndby, Rødovre, and Avedøre Holme are inner-ring western and southern suburbs, with Avedøre Holme recognized in market commentary as a prime industrial area with strong rent growth dynamics.

The multi-tenant, urban infill character of the portfolio — approximately 30 occupiers across diverse sectors — reflects the small-bay light industrial format that has drawn increasing investor attention across Nordic markets, where supply of well-functioning industrial premises in established urban locations remains constrained.

Areim's Strategic Rationale

"We are very pleased to have acquired a portfolio that offers scale, a diversified tenant base, and strategically located properties in areas where the supply of well-functioning industrial premises is limited. The acquisition strengthens our presence in Denmark, and we remain open to further investment opportunities in the sector. We look forward to working and growing together with our tenants as we develop the properties to support their evolving needs," said Peter Frische, Head of Areim Denmark.

Areim frames the transaction as consistent with its strategy of investing in urban light industrial assets across the Nordic region. The firm plans to improve the properties' quality and sustainability profiles through targeted updates, including energy-efficiency measures.

The Copenhagen acquisition extends a pattern of Nordic light industrial platform-building by Areim. In December 2022, the firm acquired a roughly 15,000-square-meter light industrial property at Priorparken 839 in Brøndby. By that point, its Nordic light industrial portfolio comprised approximately 55 properties totaling 215,000 square meters of lettable area. In September 2025, Areim acquired a 14-property light industrial portfolio across Stockholm, Göteborg, Västerås, and Norrköping totaling approximately 72,000 square meters, 92 percent let. In June 2026, the firm closed a 33-asset, 110,000-square-meter Swedish light industrial portfolio in Greater Stockholm and Uppsala. The Greater Copenhagen acquisition adds further scale to that pan-Nordic platform.

Seller Background and Transaction Structure

The seller, Mileway — the Blackstone-backed European last-mile and light industrial platform — has been selectively recycling capital out of mature portfolio positions across Europe. The transaction represents opportunistic capital exiting stabilized Danish light industrial stock, with Areim stepping in as a Nordic specialist to execute the next phase of value creation through targeted capital improvements and ESG upgrades.

On the buy side, Bruun & Hjejle served as Areim's legal adviser, KHR as technical adviser, and KPMG as financial and tax adviser. On the sell side, CBRE acted as transaction adviser and Gorrissen Federspiel as legal adviser.

Greater Copenhagen Industrial Market Context

The acquisition comes as Greater Copenhagen's industrial and logistics market has seen vacancy shift from just above 2 percent in 2022 to just under 6 percent year-to-date in 2025, reflecting a broader normalization after a period of extremely tight supply conditions. Despite the rise in vacancy, established urban infill locations with strong road connectivity — the profile that characterizes this portfolio — continue to attract investor demand, particularly for assets offering repositioning potential and proximity to last-mile distribution networks serving the Danish capital.

Areim's move into a six-property Copenhagen portfolio underscores continued institutional appetite for urban light industrial assets in Nordic markets, where the combination of limited new supply in inner-ring locations and growing occupier demand for flexible, well-located premises supports the investment thesis for value-add repositioning strategies.