Colliers was sell-side advisor in billion-kroner transaction between NREP and family-owned property developer Togt.
With the transaction, NREP added a property portfolio of almost 46,000 sq m, comprised of 567 residential units distributed over 23 properties, to NREP Income+, an open-ended investment fund.
The seller is Togt A/S, and the parties have agreed not to disclose the exact price tag of the transaction, which is a billion-kroner investment.
“We are delighted to have been able to be sell-side advisor to Togt in the divestment of such a prominent portfolio, which attracted substantial interest from domestic and international investors alike. Thanks to a close collaboration between our local experts at Colliers’ Odense office and our nationwide Capital Markets team, specialists in high-volume transactions, we managed to find the right buyer. We congratulate both parties with a successful transaction,” says Peter Winther, Executive Director and Head of Colliers’ Danish Capital Markets team.
The portfolio’s 23 properties are a mix of new and old buildings, located mainly across central Odense, therefore with a broad appeal to residential tenants. A minor part of the portfolio is located in Copenhagen and Svendborg, the latter also on the island of Funen.
The transaction marks the most recent and the largest in a string of notable transactions facilitated by Colliers on Funen in 2021.
“Momentum is strong in the Funen market for investment property, and we experience pronounced and broad demand for both large and smaller investment opportunities,” says Christian Darum, Senior Advisor with Colliers in Odense.
Download local market analyses for Funen, Denmark
The growth witnessed in Odense has great bearing on Funen in general. These years, Odense is seeing strong growth and mounting demand from financially strong investors. For an overview of actual and anticipated trends across all segments and details on key development schemes in Odense, please refer to a recent Colliers analysis. Please note that the analysis is in Danish.