CBRE Global Investors has completed the acquisition of a retail asset in central Copenhagen, on behalf of a joint venture between the CBRE Europe Value Partners fund series and Portus Retail.
Financial details were not disclosed.
The 3,000 m2 asset is located at Vimmelskaftet 39-41, on Strøget, the fully pedestrianised, prime shopping street in the city centre. The property comprises of two ground floor retail units, with restaurant and office space on the first floor. The retail and restaurant units are currently occupied by Sportmasters, Trend and Constellation Burger.
'This acquisition is in line with one of our key fund strategies – to acquire and refurbish retail assets in prime shopping locations in major European cities,' said Charles Baigler, fund manager of CBRE Global Investors’ Europe Value Partners fund series. 'Due to the favourable supply and demand dynamics in Denmark and Copenhagen in particular, we expect to see strong rental growth.'
The joint venture was advised by Capital Investment.
