In a significant move that signals growing investor confidence in the Nordics, Slate Asset Management has made its debut in Denmark by acquiring a portfolio of five grocery-anchored retail properties and two adjacent residential assets from Nrep, the real estate arm of Urban Partners, in partnership with StepStone Real Estate. The acquisition, made through a joint venture with OneIM, positions Slate to capitalise on Denmark’s robust consumer fundamentals and well-performing retail infrastructure.
Located in dense residential districts across Greater Copenhagen — including Holte Midtpunkt, Lyngby Stationscenter, Frihedens Butikscenter, Vallensbæk Stationstorv Syd, and Taastrup Torv — the properties benefit from proximity to five major transport corridors. The portfolio is anchored by top-performing regional grocers and pan-European retail giants, boasting high occupancy and immediate value creation potential through active leasing and asset enhancement.
“We are pleased to be scaling our presence in the Nordics with this strategic acquisition in Denmark,” said Sven Vollenbruch, Managing Director at Slate. “This portfolio presents an attractive entry point for us in this market given it is anchored by leading essential goods tenants – many of whom we already have well-established relationships with – and presents meaningful opportunities to unlock additional value through active, hands-on asset management.”
During its tenure, Nrep spearheaded a comprehensive repositioning effort across the assets, including tenant diversification, concept store additions and upgrades that improved ESG credentials and community vibrancy. Over 16,000 m² of new residential space was created in Vallensbæk and Friheden alone, with zoning already in place for 100 additional units at Taastrup Torv, a development opportunity that may appeal strongly to value-add investors and local developers.
“The properties are in attractive locations with reliable occupancy and offer significant ESG potential. They sit at the intersection of best-in-class development and the green transition,” said Thomas Riise-Jakobsen, Partner and Country Manager for Denmark at Nrep. “With Slate Asset Management taking over, I have no doubt they will capitalise on the progress to date to elevate the properties further.”
The deal not only strengthens Slate’s European footprint — now spanning over 1,000 commercial properties in eight countries since 2016 — but also signals a new wave of investment targeting necessity-based retail in the region. Experts say the Nordic region’s economic stability, rising urbanisation, and growing focus on mixed-use assets with sustainability credentials are increasingly compelling to global capital.
People mentioned:
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Sven Vollenbruch, Managing Director at Slate Asset Management
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Thomas Riise-Jakobsen, Partner and Country Manager for Denmark at Nrep
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Josh Cleveland, Partner and Head of EMEA at StepStone Real Estate
Companies mentioned and roles:
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Slate Asset Management – buyer, investor and manager
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Nrep – seller, developer and asset repositioning leader
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Urban Partners – parent company of Nrep
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StepStone Real Estate – co-investor and strategic partner in transaction
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OneIM – Slate’s capital partner and joint venture investor
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CBRE, Bruun & Hjejle, Deloitte – advisers to Nrep
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Schjødt, Thylander, COWI, PwC – advisers to Slate
Image Source: Photo by Pixabay
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