South Korean investor AIP Asset Management has acquired a large office property in Copenhagen, marking its first investment in Denmark and the Nordics, for DKK1.2 bn (around €160 mln).
The vendor is a company owned by Danish institutional investors Velliv, TRYG, PBU and AP Pension, who were advised by CBRE.
The property is located in Copenhagen's Søborg area at Vandtårnsvej 110, 112 and 114 with a multi-storey car park facility at Rosenkæret 1-9. It consists of three large office buildings comprising around 50,000 m2 and parking facilities for 1,030 cars. It is let to global pharmaceuticals company Novo Nordisk.
The office buildings are connected and constructed in three phases in 2006, 2009 and 2015 respectively, in cooperation with Novo Nordisk, which has always occupied the property.
Danny. K. Y. Kim, CEO, AIP Asset Management, commented: ‘ The Novo Nordisk office acquisition demonstrates our interest and ability to close prime assets in Denmark and other Nordic countries. We are proud to be the first and will be the most experienced Korean asset management company working closely with our valued local partners in this market.’
AIP was advised by KanAm, Bruun & Hjejle and Fokus Asset Management, and has entered into a property management agreement with the latter.
