Residential rental properties covering a total of 9,675 m² sold to Danica.
The properties in question are two residential rental properties, which are rarely offered for sale, of 4,550 m2 and 5,125 m2, respectively, located in Frederiksberg and Charlottenlund. The two properties were offered for sale off-market by Newsec Advisory and sold collectively at a total price of around DKK 250 million.
The properties are located at Bag Søndermarken 1B-11, 2000 Frederiksberg, and at Ordrup Jagtvej 93-109, 2920 Charlottenlund, and contain a total of 122 flats. The properties have been acquired by Danica Ejendomme as of 1 May 2021.
”The interest in the properties was great, especially considering the new regulations of section 5(2) of the Danish Housing Regulations Act (boligreguleringsloven), which these properties are subject to. In Newsec, we are very pleased to have been entrusted with this exciting task by the now former owners and not least to have succeeded in bringing the parties together”, says Brian Tretow-Loof, Executive Director at Newsec Advisory and head of the Capital Markets team in Denmark.
The two family-owned properties were acquired in the 1940s and have been owned by the same family ever since. In connection with a transition to the next generation, the family decided to explore the possibilities of a sale and, after thorough analysis and valuations of value prepared by Newsec, the family decided to dispose of the properties. At Newsec, the offering and the completion of the transaction, which included the statutory obligation of offering the tenants the “right to buy”, was handled by Senior Partner Louis Kjærgaard and Associate Director Thomas Grauslund Nielsen.
In connection with the sale, the selling family stated: “For over three generations, the family has owned the properties and, after the new generation took over in 2018, we decided that it was time to find another owner. It was important for us that the buyer of the properties was a well-established Danish company that intended to carry on the properties and carry out extensive improvements. Through a professional and structured process, Newsec Advisory helped us find exactly the right buyer in Danica Ejendomme”.
Unusual circumstances and challenging times for especially hospitality and F&B - due to Covid-19.
Newsec Capital Markets team in Denmark, are proud to have brought the parties together and reached a common ground.