German fund manager Aachener Grundvermoegen has acquired a prime retail block in Copenhagen from Aberdeen Standard Investment for DKK 565 mln (€76 mln).
The asset at 45-47 Købmagergade is situated in Copenhagen’s prime retail district, and is currently let to international brands Calvin Klein, JD Sports, H&M and Message. The propertyincludes some residential space on the upper floors.
The deal marks Aachener Grundvermögen's entry into the Danish property market. The company is already present in Austria, Switzerland and the Netherlands, alongside its domestic market. The company said that it is looking to build its Danish portfolio through additional acquisitions in the future.
'We are delighted to conclude this sale for our clients who yet again have delivered a product that attracted a great depth of interest from global investors. In a similar manner to the sale of 3 Købmagergade which we concluded earlier in the year, Aberdeen Standard have been market leading in their market entry, product creation and well timed exit,' said Oli Fraser Looen, head of Cross Border Retail Investment at Savills, which advised the vendor.
