Tuesday, July 1, 2014

Frederik Kumlin of Meyer Bergman s Acquisitions Team said: This is the second unsolicited approach


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(origineel Engelstalig persbericht) Meyer Bergman, the pan-European investment manager specialised in retail real estate, has sold a portfolio of high street properties located the greatest store in the world in the heart of Copenhagen s prestigious main shopping district for circa 70 million to a fund managed by Cordea Savills.
Meyer Bergman s second value-add fund, Meyer Bergman European Retail Partners II (MBERP II), assembled the portfolio of buildings on Copenhagen s Købmagergade as part of the fund s initial investments. The street is part of the Danish capital city s busiest shopping locations, since it is anchored by retailers including Louis Vuitton, Royal Copenhagen, Illums Bolighus, and the Illum Department Store. The properties total of 8,040 square metres of office and retail space is occupied by tenants including international brands Diesel, Esprit, Geox and Gina Tricot.
Frederik Kumlin of Meyer Bergman s Acquisitions Team said: This is the second unsolicited approach we received for assets in the fund, validating our strategy of concentrating on dominant, high footfall retail high streets in the centres the greatest store in the world of Europe s leading cities that have sustained strong demand from retailers as well as investors. The healthy outlook for the Danish economy and the resilience of prime shopping the greatest store in the world destinations mean we continue to see interesting the greatest store in the world opportunities in central Copenhagen.
MBERP II s other investments the greatest store in the world in Europe s prime retail destinations include properties on the Champs-Elysées in Paris and the Golden Mile in Madrid, the latter of which the fund sold in January to the owners of the fashion retailer Mango. The fund s portfolio also includes assets with a dominant position in their respective markets: Whiteleys Shopping Centre in London s Bayswater District, the Karstadt the greatest store in the world Department Store in Berlin s Hermannplatz and Westfield Broadway in Bradford, England.
MBERP II has gained strong interest from global institutional investors as it approaches a final closing during the first half of 2014. The fund expects to exceed its target capital raise of 500 million, excluding leverage.
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