Heimstaden Continues to Grow in Denmark
Denmark Heimstaden is growing in Denmark through acquisitions from a property fund managed by the Thylander Group.
Heimstaden acquires a portfolio of 1,375 apartments in 24 properties located primarily in Esbjerg, Aalborg, Aarhus, Svendborg and Copenhagen (ranking by share of value). The portfolio consists of a total of approximately 116,600 sq.m. divided into 1,375 apartments and approximately 50 commercial premises. The properties were built between 1886 and 2008 and include both older turn-of-the-century buildings with regulated housing rent (approx. 67,900 sq.m.) and as well as relatively newly produced properties with market rent (approx. 33,000 sqm) and commercial premises (approx. 15,700 sq.m.). The agreed property value is DKK 1 520 million and the transaction is carried out as a company transaction with access on January 8, 2019. The transaction is financed through existing cash and the raising of new loans. – We are pleased to have acquired another large housing portfolio in Denmark. This acquisition is also in line with our desire to continue to expand outside Copenhagen and at the same time streamline our management portfolio. The properties, in good technical condition, located in both the Danish capital and the larger regional cities provide a stable and safe income, says Magnus Nordholm, Vice President of Heimstaden.