Nrep has acquired a large plot of land at Enghave Brygge in Copenhagen
Nrep Nordic Strategies Fund I, a fund managed by Nrep, has acquired a large plot of land at Enghave Brygge in the South Harbor of Copenhagen from the Swedish developer JM. The purchase price is DKK 230 million.
The acquisition is executed in a joint venture with NPV who Nrep also works with in relation to the development of the BIG Shopping Centre in Herlev, near Copenhagen.
The land plot holds 85,500 sqm of building rights of which 50,500 sqm are residential building rights and 35,000 sqm are commercial building rights. The area will get a maritime identity with islands and canals. Closing of the transaction will take place in December and the area will be developed over the next five years.
“The Enghave Brygge area will be one of the prime waterfront locations in Copenhagen once the entire district area has been developed. We are excited to participate in its development over the coming years and we look forward to continuing our partnership with NPV”, says Rasmus Nørgaard, CIO and Partner at Nrep.
Nrep Nordic Strategies Fund I invests in retail, logistics and residential properties in the Nordic region. The fund is backed by leading Nordic and international institutional investors and has invested and committed more than EUR 1 billion since inception in May 2014.
For additional information please contact:
Rasmus Nørgaard, Partner and CIO, Nordic Real Estate Partners +45 28933895