Over €560m transactions in 2014

Cordea Savills, the international property investment manager, transacted €560 million in the Nordic Region in 2014 bringing total AUM for the region to ca. €1.1bn, confirming its position as one of the foremost investors in Scandinavia.

Cordea Savills, the international property investment manager, transacted €560 million in the Nordic Region in 2014 bringing total AUM for the region to ca. €1.1bn, confirming its position as one of the foremost investors in Scandinavia.

During 2014 Cordea Savills acquired eighteen properties across the Nordic region of which 11, worth approximately €230 million, comprise retail assets in Copenhagen. All of these assets were acquired off market and are leased to blue chip tenants including Hard Rock Café, Cos, Diesel, H&M and Body Shop.

In order to strengthen Cordea Savills’ Nordic presence the firm will shortly be setting up a new office in Copenhagen to complement its existing base in Stockholm. Furthermore the investment team of Nordic real estate specialists has been expanded with the hiring of Antti Laine, Maria Ingelson and Lauren Carroll last year and additional appointments are likely to be made in the coming months.

This has enabled Cordea Savills to broaden its investment activity to include Denmark and Norway and will continue to increase new business activity across a region that is ranked as one of the most economically dynamic and prosperous in the world.

In December 2014 Cordea Savills launched its Nordic Logistics Fund, with assets of ca. € 300 million across Sweden, Norway, Denmark and Finland. The portfolio comprises 10 prime logistic properties let to tenants such as El Giganten, DHL, Tata Steel, Ahsell and Prime Cargo with average unexpired terms in excess of ten years.

Kiran Patel, Chief Investment Officer, commented:

“The Nordics have become increasingly attractive markets for investors and with positive returns across most markets, 2014 was an attractive entry point to deploy capital. Our focus will remain towards core plus transactions with a strong emphasis on income durability and income growth. We are ideally placed to continue ramping up our presence in the Nordics.”