The agreed property value is MDKK 336 and the transaction is carried out as a company transaction. The transaction will be financed through existing cash and the raising of new loans.
“We are pleased to have acquired another building project in the area. We have already taken our first property in the area and with this fine project, the good cooperation with the Bach Group continues,” says Tom Rasmussen, Head of Asset Management at Heimstaden.
“The project is an excellent complement to our portfolio and especially the smaller and area-efficient apartments make it possible to offer rental apartments at the best location with attractive rental level. At the same time, we reach a good risk-adjusted return,” says Christian Fladeland, CIO at Heimstaden
Gorrissen Federspiel has been advisor to Heimstaden.
Heimstaden acquires in the Bryggens Bastion area.
Heimstaden Makes New Copenhagen Acquisition
Denmark — Heimstaden makes a another acquisition from Bach Gruppen and buys a project property containing 111 apartments located in the development area Bryggens Bastion, in central Copenhagen. The 7,900 sqm property is under construction and is expected to be completed by the summer of 2020.