Swiss Finance & Property continues to focus on Denmark
The Danish partner company of Swiss Finance & Property, Viga RE, has completed a capital increase and purchased a residential property in Copenhagen.
In October, Swiss Finance & Property (SFP) carried out a capital increase of EUR 34.3 million together with its local partner Viga RE in Denmark, of which SFP was the sole placement agent.
The fresh money is to flow into acquisitions - one transaction has already been closed: Viga RE has bought a new residential property in Copenhagen's Østerbro neighborhood. According to SFP, the property comprises 102 micro-units and a large roof terrace and offers considerable potential for value creation.
The total value of the portfolio after the acquisition is now 265 million euros. After the full investment of the new capital commitments, it will rise to around 330 million euros. A portfolio value of 500 million euros is expected to be reached by the end of 2023. Viga RE's overall target is a gross asset value of EUR 1 billion.
SFP assesses the fundamentals of the Copenhagen market as "still very attractive" compared to other major European cities. Viga RE pursues a core+ strategy, focusing on residential properties in the greater Copenhagen area. The portfolio's inflation risk is mitigated by indexed leases and partial financing through long-term fixed-rate mortgage bonds, SFP points out. (ah)
