Heimstaden’s subsidiary, Heimstaden Bostad AB, has signed an agreement to acquire Niam AB’s Danish property portfolio, which includes the real estate company HD Ejendomme, for €1.63 billion (DKK 12.1 billion), in a largest real estate transaction ever in Denmark.
The portfolio consists of 6,237 homes and 35 commercial units geographically spread across Denmark.
The residential portfolio mainly consists of terraced houses located across Denmark in large and mid-sized cities, such as Odense, Vejle, Horsens, Silkeborg and Randers. The commercial properties are all located in the vicinity of the residential portfolio.
”The Danish housing market remains favorable with good economic prospects and strong demographic trends..”
“We are very pleased to announce the acquisition of an attractive portfolio with a strong operational platform, and with HD Ejendomme we will significantly expand our geographical footprint and operational reach. The Danish housing market remains favorable with good economic prospects and strong demographic trends, and with the acquisition, Heimstaden manifests its position as Denmark’s largest residential real estate company, ” says Christian Fladeland, Co-Chief Investment Officer of Heimstaden.
In connection with the transaction, Heimstaden AB will take over all employees from HD Ejendomme and integrate them into Heimstaden Denmark. The property portfolio will be fully owned by Heimstaden Bostad AB.
Henrik Gerdin, Niam Fund Manager, says: “We are very pleased to have successfully implemented our strategy to build a large and attractive residential asset management portfolio, while improving HD Ejendomme and its operational key figures. Niam has solid knowledge and experience of buying and managing residential portfolios in the Nordic region and will continue to be active in transactions, asset management and project development.”
Michael Berthelsen, Country Manager Denmark, says: “After several years of building a large portfolio at a high pace in conjunction with active asset management, we are pleased to hand over the company to a strong and professional residential owner like Heimstaden.”
