Alma Property Partners and Kristensen Properties have acquired a mixed retail and office property at Frederiksberggade 38 on the well-known high street Strøget, which includes retail tenants such as Sportmaster and Change and office tenants such as Tactile and Ordnung. The property spans over 7,700 sqm, with approximately 75 percent being office and the remainder retail.

Part of the property was newly built in 2019, while the other part was extensively renovated the same year, ensuring modern facilities and a high standard for both office and retail leases. The rental income is approximately half retail and half office.

“We are pleased to enter a partnership with Kristensen Properties regarding this exciting property and to take an active part in the positive development of Frederiksberggade, where the City of Copenhagen has allocated DKK 8 million for a physical upgrade of the street. At the same time, we would like to thank Abrdn and Capital Investment for delivering a high-quality property and a smooth transaction process,” says Hüseyin Meric, Partner at Alma Property Partners.

“We are pleased with the good collaboration with Alma Property Partners on this property and expect more acquisitions together. We look forward to executing our business plan for the property, which includes a focus on ESG initiatives. Additionally, we will change the tenant mix and actively participate in the development of this part of Strøget, which we believe has untapped potential,” says Jeppe Lynge, COO at Kristensen Properties.

Alma Property Partners and Kristensen Properties have been advised by Accura, PWC, and KHR. The seller is Abrdn, which has been advised by Capital Investment, CBRE, Lundgrens, and EY.