Swedish private equity firm Niam has announced the acquisition of Copenhagen Towers, a landmark office and hotel complex located in Ørestad, to the south of Copenhagen.
The 84,000-m2 asset was bought for an undisclosed amount from Copenhagen Skyline, a company owned by the partners in private equity firm Solstra Capital Partners.
Copenhagen Towers, constructed in two stages between 2009 and 2016, consists of Crowne Plaza Copenhagen Towers, a 366-room hotel, and three neighbouring office buildings of 54,000 m2 in total.
Completed in 2009, the hotel has repeteadly been awarded as the World’s Greenest Hotel and declared the Most Cutting-Edge Green Hotel in the world.
The majority of the office space, with a number of blue chip companies as tenants, was completed in 2016 and is LEED Platinum certified.
'We are very pleased to have acquired one of the most prominent new office and hotel properties in Copenhagen. Our main focus will be on maintaining a good relationship with existing tenants and let remaining vacant space to improve the already thriving environment in the property,' said Fredrik Jonsson, Niam's CEO. 'We strongly believe that the micro location in combination with modern premises provides an attractive offer to tenants. Our view on the Copenhagen office market has remained positive.'
'This transaction, this year's biggest so far, underpins the sustained strong investor appetite for attractive investment properties in Denmark. In consultation with the seller, we opted for a relatively narrow process, targeting a very specific and select group of prospective investors. Demand was strong for this highly prominent property complex, both from domestic and international investors,' commented Peter Winther, CEO of Colliers.
Colliers acted as sell-side advisor in the transaction.