In one of the largest Danish transactions of 2020, HighBrook Investors (“HighBrook”), a real estate private equity firm, made its debut in the Danish market by acquiring an iconic loft residential building in Copenhagen through an off-market transaction. Sources close to the transaction state that the purchase price was nearly DKK 1 billion, or, €130 million.
‘A-House’ is an award-winning loft residential building in the Islands Brygge area of Central Copenhagen that was redeveloped in 2010 with c. 22,500 m2 of floor space. The property includes 195 residential apartments, 12 retail units, a fitness center, an onsite grocery store, cafés and restaurants and one of the largest rooftop terraces in the city. The property is currently in the process of undergoing a comprehensive high-end refurbishment program.
A-Huset was acquired on behalf of HighBrook’s third fund, HighBrook Property Fund III. The fund invests in commercial and residential use properties, with a focus on office, residential and logistics and is currently most active in the Netherlands, Germany, Denmark and the UK. The fund pursues a value-add strategy and has completed a total investment volume of over EUR 1.75 billion since the fund was raised in 2018.
HighBrook acquired the A-House in a joint venture with local operating partner, SF Management, a boutique property investment, management and advisory firm located in Copenhagen and London.
HighBrook was advised by CBRE (commercial), Lundgrens (legal), EY (tax, financial & corporate) and Emcon (technical and environmental) during the due diligence process.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.