Aareal Bank have completed the financing of Sjælsø Gruppens current hotel and office development project situated in the Ørestad development region of Copenhagen and referred to as Copenhagen Towers. The development is forecasted for completion in 2010 and consisting of around 86,000 sq m will be comprised of two towers, a hotel tower eighty five metres high with twenty five levels and an office tower on twenty levels, together with a central atrium area leading to additional fitness facilities, retail and underground parking. CBRE provided a full Bank valuation and report for Aareal Bank.
Valuation of site areas and building on Aarhus harbour
With the transformation of the northern part of Aarhus habour from an industrial harbour into the Aarhus Docklands, some of the harbour area was sold to the municipality of Aarhus.
It was decided that part of the harbour should remained untouched thereby keeping the old fishing harbour. The municipality of Aarhus therefore needed a market valuation of this part in order to negotiate with the present owners/tenants and the conditions concerning them taking over the site areas and buildings.
Portfolio Valuation
CBRE carried out a valuation of a portfolio consisting of 32 properties (mix of offices, industrial and logistical properties) covering in total 403,000 sq m valuated at more than DKK 2 billion.
Denmark