The portfolio consists of a total of approximately 38,000 sqm distributed among 377 condominiums and five commercial facilities. Furthermore, 135 parking spots are included in the acquisition.
The properties are constructed between 2007 and 2013, located in central locations and are of a high quality. For example, the portfolio includes apartments in Isbjerget in Aarhus that was named Best Residential Development of 2013 at MIPIM in Cannes, France.
The purchase price is DKK 1.128 billion (EUR 151M) and the transaction was finalized as a company transaction. The conclusion of the agreement and access was granted on October 31st and is financed through existing cash and new loans.
“We are happy to increase our Danish portfolio with nice apartments in good locations. The transaction completes our existing portfolio and we can now further take advantage of the economies of scale we have established in Denmark,” says Magnus Nordholm, deputy CEO of Heimstaden.
Colliers Danmark and Gorrissen Federspiel was the advisors to Heimstaden.