Pan-European investor AEW has acquired a retail asset in central Copenhagen on behalf of its City Retail Fund from a group of private investors.
The deal marks the third acquisition for the fund in Copenhagen. The transaction volume was not disclosed.
The asset, which is fully let to Hugo Boss, comprises a 800 m2 retail unit on Østergade 15, in Copenhagen's prime shopping district. Other high-end brands in the immediate area include Moncler, Bang & Olufsen and Mulberry.
'We believe that the new acquisition in Copenhagen is an attractive addition to the City Retail Fund and over the coming months we intend to invest further in assets in prime locations which we believe have the potential for income growth over the short to medium term,' commented Christina Ofschonka, City Retail Fund executive at AEW Europe. 'We currently have a number of potential opportunities in the pipeline which would support the diversification of the fund, in terms of both size and location.'
AEW's City Retail Fund focuses on high quality, income producing retail assets in good locations within Europe's main city centres.
