Urban Partners, a Nordic developer and investor, has acquired the former headquarters of Danish technology firm FLSmidth in Valby, Copenhagen, via its real estate arm Nrep in a joint venture with AG Gruppen. The acquisition was made for its NSF V fund.
Nrep and AG Gruppen said they plan to redevelop the 72,000sqm building into a mix of modern office facilities and homes for local people.
Urban Partners said that, through the acquisition, Nrep and AG Gruppen are progressing their joint ambition 鈥渢o transform the city鈥檚 unused and ageing commercial buildings into vibrant, mixed-use neighbourhoods with architectural and historical character鈥�.
Thomas Riise-Jakobsen, partner and country manager for Denmark at Nrep, said: 鈥淰alby is a rapidly changing neighbourhood, and we see strong local commitment and a desire to continue developing the area. We want to contribute to this positive development and use the area鈥檚 industrial history to add another attractive area to Valby.
鈥淲ith our approach, we want to build on Valby鈥檚 existing qualities and do our part to create an open and sustainable neighbourhood with room for life, work and community.鈥�
Bjarke Windel酶v Graae, CEO of AG Gruppen, said: 鈥淲e are pleased that we now have the opportunity to develop an exciting new urban district for Copenhagen and its residents, in collaboration with our strong joint venture partner Nrep.
鈥淲e believe that through our joint efforts, we will create a vibrant new neighbourhood that connects the area鈥檚 historical significance with modern housing and attractive office spaces.鈥�
Financial details were not disclosed.
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