Sveafastigheter divests 70 condominiums in Copenhagen
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.
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Sveafastigheter is a leading Nordic property fund manager. The company was founded in 2003 and currently manages assets in Sweden, Finland, Denmark and Estonia worth in total EUR 1 billion. Its latest fund, Sveafastigheter Fund III, has EUR 317 million of equity commitments.
Sveafastigheter is the investment management arm of Brunswick Real Estate - a group of market leading companies within corporate finance, transactions, investment management and debt financing focusing on real estate in the Nordics.
North Property Asset Management
North Property Asset Management (“North”) is a real estate asset manager with a total managed portfolio of DKK 2 billion containing both commercial and residential. North has 7 employees and is located in Copenhagen.