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Sveafastigheter divests 70 condominiums in Copenhagen

Investments, Press Release

Sveafastigheter Fund III (”Sveafastigheter”), in co-operation with local asset management partner North Property Asset Management, has divested 70 modern condominiums in Copenhagen to Bouwfonds Investment Management (“Bouwfonds IM”).

The divestment was closed on 1 March with immediate handover to the buyer. Bouwfonds IM is the real asset investment management division of Rabo Real Estate Group, one of Europe’s leading real estate companies.

The 70 condominiums, which are located at Edvard Thomsens Vej 7A-C in Ørestad, are divested as one apartment complex. Sveafastigheter acquired the condominiums in 2012.

– Ørestad is an attractive residential area in Copenhagen, with exciting architecture and in close proximity to the city center as well as Kastrup. We have deployed an active asset management with particular focus on restructuring the leases and improving the long-term NOI, says Mikael Pehrsson at Sveafastigheter.

Leimdörfer Denmark and Bruun & Hjejle were the seller’s advisers in the transaction.