SFP invests in Denmark for the first time
Swiss Finance & Property acquires a stake in a Danish real estate asset manager. Together with local partners, a first portfolio transaction was completed.
Swiss Finance & Property AG (SFP) and its partners have acquired a portfolio of six properties in central locations in Copenhagen. It has a total value of €80m and is divided into 88% residential and 12% commercial. The debt-adjusted initial yield is approximately 3.6%, according to SFP, and the annual distribution is estimated at around 4.0%.
In the medium term, the portfolio is to be expanded with similar properties in urban areas and grow steadily to EUR 1 billion over the next five years. In the longer term, the plan is to go public or sell it to an institutional investor, SFP says.
The properties were purchased via the newly founded public limited company Viga RE, in which, according to SFP, a total of over 30 investors have invested. SFP acted as co-arranger and placement agent. Swiss Finance & Property Group AG (SFPG) holds a stake in the management company Viga RE Management. With this investment, SFPG has "created a first foothold in Scandinavia", says Hans-Peter Bauer, Chairman of the Board of Directors at SFPG. (ah)