Aviva Investors buys Goldschmidt’s trio of historic central Copenhagen properties

Aviva Investors has bought a portfolio of three historic buildings in central Copenhagen from a firm owned by Danish billionaire Mikael Goldschmidt.

While neither party publicly named the other, both Aviva Investors and M Goldschmidt Holding have listed the same three properties as being traded: Bernstorffsgade 21, HC Andersens Boulevard 9-11, and Norregade 4.

The portfolio, which is referred to as the Atlas Portfolio, includes a total of nearly 8,200sqm of mixed-use properties, split between office, retail and residential use in the centre of Copenhagen, according to Aviva Investors.

It described the buildings as “three high-quality historical assets built between 1811 and 1916” in “one of the most sought-after locations in Denmark”.

George Fraser-Harding, real estate fund manager at Aviva Investors, said: “This acquisition builds out further the assets under management in our Copenhagen portfolio as we look to take advantage of its strong growth potential and is well-aligned with our desire to invest in high quality buildings, in prime locations, which can bring value and performance to our clients’ portfolios.”

The city had been identified as one of Europe’s most dynamic cities in its analysis of office and tech markets in the region, he said, adding that it was also one of the most research-intensive hubs in Northern Europe housing hundreds of tech companies.

“As such, the city is a key office market for Aviva Investors and one we are strategically committed to within our real estate investment strategy,” Fraser-Harding said.

M Goldschmidt Holding, which has DKK5.9bn of assets, said the sale “to a UK investor” marked its 40th anniversary, and that the deal had been brokered by Lintrup & Norgart.

Søren Bjørn Hansen, the company’s deputy CEO, said: “We still have many properties in Copenhagen, but here is a good opportunity to take advantage of the current price level.”

It was good for the company to have released the capital, he said, as it was about to embark on the third of six planned stages to build 1,300 homes for up to DKK4bn in the Copenhagen suburb of Hillerød.

Aviva Investors said its real assets unit was advised in the deal by Capital Investment.