Agent Newsec Advisory has announced the sale of an 89,000 m2 retail portfolio in Denmark for a price of DKK 387 mln (€52 mln).
The package is part of a larger sales mandate received by Newsec in early 2018 to divest all the real estate assets of Swiss-based plumbing and heating products distributor Ferguson in Denmark, Norway, Sweden and Finland.
The total portfolio comprised 42 properties, only two of which are still to be divested.
The Danish portfolio is entirely leased to retail DIY group Silvan and consists of 18 retail properties and one plot of land, located across Denmark, with the majority located within the Greater Copenhagen area. It was bought by an international entity advised by Pears Global Real Estate.
Newsec expects to complete the sale of Ferguson’s entire Nordic property portfolio by the end of the year.
'The process has been interesting on many levels, and once again highlights the value-add of our close collaboration between the Nordic Newsec offices,' said Brian Tretow-Loof, head of capital markets, Newsec Advisory in Denmark.
