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.