Heimstaden has agreed to acquire the block Hostrups Have the bankruptcy estate to Andelsboligforeningen Hostrups Have in Frederiksberg. Hostrups Have is a large residential neighborhood in central Frederiksberg, built from 1935 to 1937. The property consists of 678 residential units and 47 commercial premises, located mainly at street level. The total area is about 65 000 sqm.
The total value of the property agreed to DKK 1.69 billion (EUR 227M) and the acquisition is financed partly by cash and partly through mortgage credit lending.
”I'm grateful that Heimstaden had the opportunity to acquire Hostrups Have. We look forward to take over ownership and thus begin the development of the property and the area around Hostrups Have in Frederiksberg for the future and with consideration for our tenants,” says Magnus Nordholm, deputy CEO of Heimstaden.
Completion is scheduled for 1 September.
Gorrissen Federspiel has been Heimstaden's advisor in the transaction.