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Heimstaden acquires 1.5B-Danish-kroner property portfolio

Real estate owner and developer Heimstaden AB (publ) acquired an approximately 116,600-square-meter portfolio in Denmark, valued at 1.52 billion Danish kroner.

The portfolio comprises 1,375 apartments across 24 properties, mainly in Esbjerg, Aalborg, Aarhus, Svendborg and Copenhagen, and about 50 commercial properties. The transaction was funded with existing cash and new loans.

As of Dec. 28, US$1 was equivalent to 6.52 Danish kroner.