Leimdörfer advises on largest real estate deal in Denmark

STOCKHOLM, 2 July 2015:
Leimdörfer, part of Brunswick Real Estate, a market leading adviser, lender and investor in the Nordics, has advised on a deal which sees Denmark’s Novo A/S and TryghedsGruppen acquir-ing 49.2% in Danish property company DADES with a gross asset value of DKK 16.9 billion.

Leimdörfer, Brunswick Real Estate’s Nordic-based investment bank, acted as adviser for DADES and its shareholders and Jacob Kjær, Head of Leimdörfer in Denmark, who led the Leimdörfer transaction team said:  “This is the largest real estate transaction ever in Denmark and a very significant deal for the Danish real estate market. This is an example of non-traditional real estate investors looking at the Nordic real estate market as a sound investment opportunity.”

DADES, founded in 1937, specialises in high quality shopping centres and office property as-sets across Denmark. DADES also owns DATEA a leading Danish property management firm with around 400 employees and DKK 300 million in annual revenue. After the transaction, the foundation Aase and Ejnar Danielsens Fond remains the biggest shareholder in DADES with a 47.3% stake.

Leimdörfer CEO and Brunswick Real Estate Founding Partner Erik Eliasson, added:
“It is a growing trend that non-traditional investors are increasingly looking at the real estate market when seeking to grow or diversify their portfolios. The market liquidity is strong and a lot of international capital from sovereign wealth funds, corporates, private equity, and other sources are now targeting the Nordics.”

Brunswick Real Estate brings together the established Nordic investment bank Leimdörfer, investment manager Sveafastigheter and debt provider LREC. The group also features a joint principal investment division to help clients unlock transactions.