REInvest Asset Management has acquired a portfolio of core office and retail space in Copenhagen's Carlsberg City district for the pan-European investing fund DEREIF SICAV FIS. The purchase price was not disclosed.
The portfolio consisting of "Theodora House", "Mineral Water House" and "Mineral Water Factory" offers almost 10,000m² of rental space. These comprise 90% office and 10% retail space. Tenancy agreements have already been drawn up for almost 50% of the space. AIG, one of the world's leading insurance companies, and the Danish company Domutech have already moved into the historic premises. The global Estée Lauder Group will move its Nordic headquarters to "Mineral Water House" at the end of May 2021. The properties were completed in autumn 2020.
"Copenhagen is considered an excellent location for business and an ideal place to live and work. Demand for modern office space in prime areas is one of the biggest drivers of rental growth in the city, as the place where companies decide to locate has become an increasingly important factor. Good public transport connections have a major impact on value creation and are gaining in significance as a factor in tenants' choice of office location. This is exactly what this portfolio offers," said Martin Nolting, Executive Director Business Development at REInvest Asset Management.
