International real estate firm Hines purchased the five-story mixed-use Købmagergade 44-46/50 in central Copenhagen, Denmark, from state-owned Freja ejendomme for 845 million Danish kroner.

Købmagergade 44-46/50 in Copenhagen Source: Hines

The asset was acquired on behalf of Hines European Value Fund, a euro-denominated, Luxembourg-based investment fund launched in 2017.

Hines plans to redevelop the historic building into a retail, hotel and residential property.

As of May 15, US$1 was equivalent to 6.28 Danish kroner.