German investor Deka Immobilien has purchased the Flintholm Company House II office scheme in Copenhagen for around €45 mln from developer NCC.
The building provides close to 9,800 m² of leasable space and 161 parking spaces and is scheduled for completion in November 2019. It is fully leased on a long-term basis to advisory company Ernst & Young (EY), which will establish its Denmark headquarters there. Efforts are being made to achieve DGNB Gold sustainability certification for the asset.
The building is located in the Flintholm district of Frederiksberg, which is part of the Greater Copenhagen area. On completion, the property will be added to the portfolio of Deka’s open-ended real estate fund WestInvest ImmoValue, which is exclusively aimed at institutional investors.
Deka said the transaction represents the first time in more than 10 years that it has invested in Denmark.
The buyer was represented in the transaction by local advisory firm Capital Investment.
