Swedish listed property firm Klövern has acquired an office property in the central part of Copenhagen for an underlying property value of DKK 1.44 bn (€190 mln).
The property provides 31,000 m2 of lettable area and 10,000 m2 of garage space. It is almost fully let, generating DKK 65 mln in rents per year. The average remaining lease contract is around 3 years.
This is Klövern's second acquisition in Copenhagen. In early February the firm took over a fully let office building occupied by the Copenhagen Business School.
'The acquisition gives us a critical volume to establish a property management platform. Copenhagen represents a strategic long-term market for Klövern,' said Rutger Arnhult, CEO of Klövern.
The acquisition will primarily be financed with bank loans.
