Carlyle Group has completed its fifth investment in the Nordic region with the purchase of the TDC headquarters in downtown Copenhagen, Denmark. This trophy asset is being sold by KTAS Pensionskasse, the pension fund of the Danish telecoms group, for an undisclosed amount. The acquisition of the 49,100 m[sup]2[/sup] office brings the private equity firm's total investment in the Nordic region to EUR 885 mln. The TDC head office comprises 19 buildings in the Norregade area of Copenhagen. Carlyle said it is planning to significantly refurbish the asset after TDC vacates it in April 2009.
Carlyle Group has completed its fifth investment in the Nordic region with the purchase of the TDC headquarters in downtown Copenhagen, Denmark. This trophy asset is being sold by KTAS Pensionskasse, the pension fund of the Danish telecoms group, for an undisclosed amount. The acquisition of the 49,100 m2 office brings the private equity firm's total investment in the Nordic region to EUR 885 mln. The TDC head office comprises 19 buildings in the Norregade area of Copenhagen. Carlyle said it is planning to significantly refurbish the asset after TDC vacates it in April 2009.
Thomas Lindstrom, managing director at Carlyle, said: 'The TDC headquarters is a trophy asset right in the centre of Copenhagen. 'We are very positive about the outlook for the Copenhagen office market, where vacancy has dropped due to demand from the business service and public sectors, following sustained economic growth in 2007.' The Carlyle Group's first dedicated Nordic real estate office was established in Stockholm, Sweden in June 2006.
The transaction follows the recent announcement of Carlyle's planned acquisition of the Copenhagen Wholesale Market. The Carlyle Group was advised by law firm Ronne & Lundgren, technical advisors Birch & Krogboe, architects Arkitema and property advisors Colliers.