CBRE Global Investors has completed the acquisition of Vimmelskaftet 39-41 in Copenhagen, Denmark, on behalf of a joint venture between the CBRE Europe Value Partners fund series and Portus Retail.
The prime retail asset has over 3,070 sqm of rentable space, comprising two ground floor retail units, with restaurant and office space on the first floor. The retail and restaurant units are currently occupied by Sportmasters, Trend and Constellation Burger.
Vimmelskaftet 39 – 41 is located on Strøget, the fully pedestrianised, prime shopping street in the city centre. The asset is adjacent to a Lego store and opposite international retail brand, Zara.
Charles Baigler, Fund Manager, CBRE Global Investors’ Europe Value Partners fund series said: “This acquisition is in line with one of our key Fund strategies – to acquire and refurbish retail assets in prime shopping locations in major European cities. Due to the favourable supply and demand dynamics in Denmark and Copenhagen in particular, we expect to see strong rental growth.”
The joint venture was advised by Capital Investment.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $98.3 billion in assets under management* as of September 30, 2017. CBRE Global Investment Partners is a division of CBRE Global Investors that delivers investment solutions using private funds, secondaries, co-investments and joint ventures, partnering with leading operators and fund managers for each strategy.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.