Vontobel fund buys in Denmark
The open-ended special AIF Vontobel Sustainable Real Estate Europe has acquired a residential and commercial building in the center of Copenhagen. The property is to be renovated and upgraded.
The property is located in the Frederiksborggade submarket, the pedestrian zone of Copenhagen, in the immediate vicinity of the Nørreport railroad junction located in the city center. The building comprises approximately 1,400 sqm of leasable space; it was built in 1830 and last extensively modernized in 1990.
The company Quadoro Doric Real Estate, which is responsible for the fund's investments, says that various measures, such as the restructuring and reletting of a retail space, the conversion of office space into residential space, and the renovation of the common areas and the façade, will leverage rental and value growth potential.
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