Jeudan buys 8 assets in Denmark for EUR 62m

Danish property company Jeudan has acquired a portfolio of eight mixed-use properties in Copenhagen for a total price of DKK 459 mln (EUR 62 mln). The seller is local developer M. Goldschmidt Properties (MGH).

The properties comprise 25,700 m² of residential and commercial space and were acquired for an average yield of 5%.

Mikael Goldschmidt, CEO of MGH, said that the disposal is in line with the company's strategy to sell mature assets. 'We buy properties, develop them and as such build value for ourselves. When that process is complete and the property is in good shape and operationally efficient, we sell it to long-term investors,' he told PropertyEU in an interview, adding that MGH will continue with its focus on the Greater Copenhagen area.

Goldschmidt: 'We are continuously on the lookout for new real estate acquisitions in the Greater Copenhagen area with the focus on commercial, residential, and mixed-use properties. As such, we currently plan to reinvest the proceeds future acquisitions. In addition to the proceeds, our group has significant financial resources available and ready to be deployed in real estate acquisitions - should attractive opportunities come across our desk.'

The operation is the latest acquisition by Jeudan which has invested around DKK 1.3 bn in the past 12 months. The company said it plans to continue its acquisition spree and is considering other purchases in the region.