The deal was closed on 1 March with immediate handover. Bouwfonds IM is the real asset investment management division of Rabo Real Estate Group, one of Europe’s leading real estate companies.

The 70 condominiums, which are located at Edvard Thomsens Vej in Ørestad, are divested as one apartment complex.

Sveafastigheter acquired the condominiums in 2012. The company then purchased a portfolio consisting of 82 condominiums from Car Val Investors for a purchase price of MSEK 143 (€15M).

- Ørestad is an attractive residential area in Copenhagen, with exciting architecture and
in close proximity to the city center as well as Kastrup. We have deployed an active asset management with particular focus on restructuring the leases and improving the long-term NOI, says Mikael Pehrsson at Sveafastigheter.

Leimdörfer Denmark and Bruun & Hjejle were the seller’s advisers in the transaction.

FACTS/

Sveafastigheter is a leading Nordic property fund manager. The company was founded in 2003 and currently manages assets in Sweden, Finland, Denmark and Estonia worth in total EUR 1 billion. Its latest fund, Sveafastigheter Fund III, has EUR 317 million of equity commitments.

North Property Asset Management is a real estate asset manager with a total managed portfolio of DKK 2 billion containing both commercial and residential. The company has seven employees and is located in Copenhagen.