HighBrook Investors announced the sale of A-House, an iconic property located in Islands Brygge, Copenhagen. A-House has been sold to Denmark's largest real estate investment and development company, Nrep. Financial terms were not disclosed.
House is a unique property spanning 23,267m2, combining 195 modern residential units and 10 commercial leases. Since acquiring the property off-market in 2020, HighBrook has completed strategic renovations in collaboration with property asset manager, SF-Management. Renovations have included improvements to the fitness facilities, the underground parking garage, the spacious courtyard, and the impressive rooftop terrace.
HighBrook’s enhancements to the property have also focused on sustainability and community development, with residents at the centre. A digital platform provides tenants access to activities like rooftop yoga and winter swimming, strengthening the sense of community and promoting the modern urban lifestyle that defines A-House. Under HighBrook’s ownership, A-House recently achieved DGNB Platinum for buildings in operation. It was the first renovated property in Denmark to achieve this high sustainability certification.
“We have successfully executed on our value-add business plan, setting new standards in sustainability in the process. We are pleased to exit to a leading real estate investor in the Nordic region that shares our vision for this property,” said HighBrook’s Chief Investment Officer and Partner, Robert Giusti Robert Giusti,.
“The purchase of A-House is a groundbreaking investment for Nrep. It is both an iconic and historic property that, in many ways, encapsulates much of what we aim to achieve with our projects,” said Nrep's Danish head and partner, Thomas Riise-Jakobsen.
“Our investments are about much more than buildings. They are about developing urban environments that integrate buildings with sustainability and, above all, social functions. In this regard, A-House fits perfectly. At the same time, it is a promising investment case with a potential we are very eager to realize,” continued Thomas Riise-Jakobsen.
NordanO and Eastdil Secured served as commercial advisors to HighBrook Investors during the sales process, with Lundgrens, Deloitte and EY advising on legal and tax. Nrep was assisted by Bruun & Hjejle and PwC.
Image source - Pexels.
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