Areim acquires its first property in Denmark. The property, Frederiksberggade 24, 1459 København K, was built in 1912 with extensive renovations carried out in 2016. It comprises of 5,800 sqm and is located centrally on Strøget, a famous pedestrian shopping area in Copenhagen. 70 percent of the property is leased to DIS – Study Abroad in Scandinavia, a school for American exchange students, and the remaining 30 percent is vacant. The vacant area facing Strøget is a two-storey commercial area of which the first floor can be converted into office space.
“I am very pleased that Areim has completed its first acquisition in Denmark. Areim Fund IV´s strategy is to invest in all Nordic countries and one of our goals is to make the first direct investment in Denmark. The property has development potential, existing cash flow as well as a very interesting location close to Rådhuspladsen, where a new metro station opened in autumn 2019. We believe that the new station will make this part of Strøget even more attractive. Our business has a strong growth and our ambition is to continue to build a real estate portfolio in Denmark, says Therese Rattik, CEO of Areim.”
Local partner to Areim in the acquisition is Keystone Investment Management A/S.