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Publicerad: 1 Februari 2019, 17:21
Heimstaden keeps buying residential properties in Denmark. Its latest acquisition is a DKK 336 million residential development project on Islands Brygge in the Danish capital. The seller is Danish company Bach Gruppen.
Heimstaden keeps buying residential properties in Denmark. Its latest acquisition is a property under development containing 111 flats in the Bryggens Bastion area on centrally located Islands Brygge in Copenhagen. The seller is Danish company Bach Gruppen.
The property has a total area of 7,900 sq.m. It is expected to be completed in the summer of 2020. The asset value is DKK 336 million and the deals is made as a company acquisition, financed through existing cash reserves and new loan facilities.
“This project is an excellent supplement to our portfolio and the smaller area-efficient flats enable us to offer optimally located rental apartments at attractive rent levels. At the same time, we achieve good risk-adjusted returns”, Heimstaden’s new CIO Christian Fladeland, comments.
Heimstaden was advised by Gorrisson Federspiel.