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Nordic Update
Heimstaden and NREP in 1,1 million DKK deal
Publicerad: 1 november 2018, 21:21
Isbjerget in Aarhus is one of the properties acquired. Photo: Heimstaden.
Heimstaden expands its Danish operations further by acquiring a portfolio of eight residential properties from NREP. The purchasing price amounts to a little over 1,1 billion DKK. The properties consist of 377 flats and five commercial spaces, with a total area of 38,000 sq.m.
Heimstaden expands its Danish operations further by acquiring a portfolio of eight residential properties from NREP. The purchasing price amounts to a little over 1,1 billion DKK. The properties consist of 377 flats and five commercial spaces, with a total area of 38,000 sq.m. They are located in Copenhagen, Aarhus and Vejle and built between 2007 and 2013, according to press release from Heimstaden.
“We are delighted to expand our Danish portfolio with good quality flats in good locations. The transaction supplements our existing portfolio well and we can achieve further economies of scale in the Danish market,” comments deputy CEO Magnus Nordholm.
The deal was made as a corporate takeover and closed on October 31st. It was funded with cash and new loans. Colliers Denmark and Gorrissen Federspiel provided advisory to Heimstaden.
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