Leimdörfer, the Nordic investment bank business that is part of adviser, lender and investor Brunswick Real Estate, has advised on a DKK16.9bn (€2.27bn) deal involving Novo A/S, TryghedsGruppen and DADES – the largest ever property transaction in Denmark.
Novo and TryghedsGruppen are taking a 49.2% stake in DADES. Leimdörfer acted as adviser for DADES, which is a shopping centre and office property owner in Denmark. It also owns DATEA, a property management firm with some DKK300m (€40m) annuall revenues. Post deal, the largest single shareholder in DADES will be the Aase and Ejnar Danielsens Fond foundation, with a 47.3% stake.
Leimdörfer CEO and Brunswick Real Estate founding partner Erik Eliasson,said: “It is a growing trend that non-traditional investors are increasingly looking at the real estate market when seeking to grow or diversify their portfolios. The market liquidity is strong and a lot of international capital from sovereign wealth funds, corporates, private equity, and other sources are now targeting the Nordics.”
Apart from Leimdörfer, Brunswick Real Estate also consists of investment manager Sveafastigheter and debt provider LREC.