Standard Life Investments' European Real Estate Club fund II (Euro Club II) has acquired two mixed-use buildings in Denmark’s second city of Aarhus for an undisclosed amount.
Standard Life Investments' European Real Estate Club fund II (Euro Club II) has acquired two mixed-use buildings in Denmark’s second city of Aarhus for an undisclosed amount.
The Regina Building is a mixed-use development, currently comprising 12,200 m2 of retail and office space. Europaplads 2 (Europa Plaza 2) comprises 9,800 m2 of office and retail space spread across 12 floors. It is located close to the city’s waterfront, at a site that underwent extensive redevelopment in 2015.
Both buildings were acquired from the same private vendor, and are Euro Club II’s first acquisitions in Denmark.
'Aarhus is enjoying a significant urban improvement programme and we believe this market offers an attractive opportunity for our investment strategy- targeting core quality real estate with measurable and manageable risk attached,' said Daniel McHugh, head of Continental European real estate at Standard Life Investments, and fund manager for the Euro Club II.
CBRE acted for the vendor; Capital Investment acted for Standard Life Investments.
