Forward funding divestment and tenant search of a serviced apartment project in Copenhagen

• Price: Undisclosed
• Area: 4,278 m²
• Buyer: Swiss Life Asset Managers (CH)
• Seller: AG Gruppen (DK)
• Financial adviser to AG Gruppen (DK)

Nordanö acted as the financial adviser to AG Gruppen in the divestment through a forward-funding of a serviced apartment development project in Amager Strand, Copenhagen, to Swiss Life Asset Managers.

The project comprises 95 serviced apartments, with a total gross leasable area of approx. 4,278 m², and unit sizes ranging from 20-60 m².

Nordanö was mandated in a two-step process: first, to secure a tenant for the project, and subsequently, to divest it.

A long lease contract was signed with the Danish publicly listed service apartment operator Movinn in August 2023. The project was then divested in a forward-funding structure, wherein AG Gruppen acts as end-to-end developer and turn-key contractor in close collaboration with Swiss Life Asset Managers. Construction is expected to be completed before summer 2027.