Standard Life Investment (SLI) has acquired Danske Bank's 37,000 m2 headquarters in Copenhagen for €188 mln, the UK institutional investor's third property deal in Denmark in a matter of days.
Standard Life Investment (SLI) has acquired Danske Bank's 37,000 m2 headquarters in Copenhagen for €188 mln, the UK institutional investor's third property deal in Denmark in a matter of days.
The latest transaction took the form of a sale-and-leaseback with Danske Bank, which remains the tenant at the 14-building complex at Holmens Kanal in central Copenhagen. Denamrk's Capital Investment partnered with SLI for the acquisition.
The deal was first reported by website, Nordic Real Estate News.
'Standard Life is happy that we successfully purchased historical properties in central Copenhagen. Together with our local partner Capital Investment we want to manage the properties with respect for the historical heritage,' said Daniel McHugh at Standard Life.
This was SLI's third acquisition of Danish real estate in recent days. On 18 March, SLI acquired all the real estate of Danish freight forwarding business Danske Fragtmænd in a sale-and-leaseback transaction valued at €130 mln.
Three days later SLIs' European Real Estate Club fund II (Euro Club II) 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.
