Real estate investor Nrep has acquired a residential building in Denmark鈥檚 capital from HighBrook Investors for an undisclosed amount.
The 23,267sqm A-House building, located at Islands Brygge in Copenhagen, consists of 195 residential apartments and 10 commercial units.
New York-based real estate private equity firm HighBrook made its debut in the Danish market in November 2020 when it acquired the building for DKK1bn&苍产蝉辫;(鈧�134尘).
HighBrook said that since acquiring the property, it has carried out renovations in partnership with asset manager SF-Management. The updates include enhancements to the fitness facilities, underground parking garage, courtyard and rooftop terrace.
Robert Giusti, HighBrook鈥檚 CIO and partner, said: 鈥淲e have successfully executed on our value-add business plan, setting new standards in sustainability in the process. We are pleased to exit to a leading real estate investor in the Nordic region that shares our vision for this property.鈥�
Thomas Riise-Jakobsen, Nrep鈥檚 Danish head and partner, said: 鈥淭he purchase of A-House is a groundbreaking investment for Nrep. It is both an iconic and historic property that, in many ways, encapsulates much of what we aim to achieve with our projects.
鈥淥ur investments are about much more than buildings. They are about developing urban environments that integrate buildings with sustainability and, above all, social functions. In this regard, A-House fits perfectly. At the same time, it is a promising investment case with a potential we are very eager to realise.鈥�
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