AXA Investment Managers - Real Assets has completed the acquisition, on behalf of a German institutional client, of an office and retail building in central Copenhagen, Denmark for €43 mln.
The newly refurbished 3,185 m2 property, located at Frederiksberggade 1, comprises office space spread over five floors, let to a public sector tenant on a long-year lease. A global clothing retailer occupies the ground floor retail space. Originally built in 1910, the building has recently been comprehensively refurbished.
'With a positive economic outlook, driven in part by increased tourist spending and low retail vacancy rates, Copenhagen presents a compelling investment opportunity,' commented Fredrik Söderlund, head of asset management & transactions in the Nordic Region for AXA IM - Real Assets. 'The building quality of Frederiksberggade, coupled with its prime location, means it is an ideal addition to AXA IM - Real Assets’ Nordics portfolio.'
AXA IM - Real Assets said it aimed to capitalise on the Nordic's robust economic fundamentals by growing its assets under management and deploying further capital into the region.
