Nordanö

Divestment of Nordic Living residential portfolio in Denmark

  • Price: DKK 1.128 billion
  • Area: 38,000 m²
  • Buyer: Heimstaden (SE)
  • Sole financial adviser to NREP (DK)

Nordanö acted as exclusive financial adviser to NREP in the sale of the Nordic Living residential portfolio to Heimstaden. The properties, originally constructed by PensionDanmark, are large iconic properties such as Isbjerget (the Iceberg) on Aarhus Ø, Horisonten I & II in Ørestad City, Baunebo in Lyngby and Kanalfronten in Vejle. The portfolio comprises 377 apartments and 5 commercial units totalling approximately 38,000 m².

The properties were constructed between 2007 and 2013 in central locations and in high standards. The portfolio includes apartments in Isbjerget in Aarhus which was awarded Best Residential Development at MIPIM in Cannes, France in 2013. NREP has owned the portfolio since 2014.

“We are proud to have advised NREP in the sale of such a substantial portfolio. The transaction underpins Nordanö’s significant track record within residential transactions as well as our market share for large and complex transactions. We are pleased with the trust NREP has shown us, and to have executed a successful sales process.” – Jacob Kjær, Partner & Head of Denmark, Nordanö.

The transaction comprises the following properties:
• Isbjerget, Århus Havn
• Kanalfronten, Vejle Havn
• Horisonten I, Ørestad City
• Horisonten II, Ørestad City
• Baunebo, Kgs. Lyngby
• Søparken, Måløv
• Revyhaven, Frederiksberg
• Amerika Plads, Østerbro

Credentials

Divestment of Danish last-mile logistics portfolio

  • Price: Undisclosed
  • Area: (GLA) 39,000 m²
  • Seller: Commercial Real Estate Denmark P/S (“CRED”), an open-ended fund owned by the Danish pension funds TDC Pensionskasse, P+, Pædagogernes Pension, and Lægernes Pension, along with other investors
  • Sole financial adviser to CRED (DK)

Financing of last-mile logistics portfolio

  • Area: 18 assets across a GLA of 164,170 m²
  • Financing: Senior financing and CAPEX facility. Financing size and terms undisclosed. Lender: KKR (US) via insurance vehicles and accounts. Borrower (client): HighBrook Investors (US).

Financing of Stejlepladsen development

  • Area: GLA of 71,900 (to be developed) m²
  • Lender: Nykredit (DK), Borrower (client): JV between PFA (DK) and By & Havn (DK), Financing: Plot financing, CAPEX facility and senior financing. Financing size and terms undisclosed.

Divestment of purpose-built student accommodation in Greater Copenhagen

  • Price: Undisclosed
  • Area: 13,668 m²
  • Buyer: KKR
  • Seller: TPG Angelo Gordon (US)
  • Sole financial adviser to TPG Angelo Gordon (US)

Divestment of 97,190 m² primarily residential building rights in Copenhagen harbour front location

  • Price: Undisclosed
  • Area: 97,190 m²
  • Buyer: AP Ejendomme (AP Pension) (DK)
  • Seller: By & Havn (DK)
  • Sole financial advisor to By & Havn (DK)

Divestment of 384 residential units, 2 retail units and 124 underground parking spaces in Copenhagen

  • Price: DKKbn 1.24
  • Area: 28,520 m²
  • Buyer: CapMan
  • Seller: NREP and AG Development
  • Sole financial advisor to NREP and AG Development

Forward purchase of residential tower of 20,200 m² in Carlsberg Byen in Copenhagen

  • Price: Undisclosed
  • Area: 20,200 m²
  • Seller: Udviklingsselskabet Carlsberg Byen P/S (DK)
  • Commercial adviser to Quantum Immobilien AG (DE)
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