Denmark: Union Investment has actually obtained the 25hours Hotel Copenhagen Paper Island from the development consortium Christiansholms Ø P/S.
The 25hours resort forms part of manufactured island situated in Copenhagen’s port area. It includes 128 spaces with a restaurant, coffee shop, bar and three meeting rooms.
KNSA Germany has currently rented the property for 25 years. It will certainly be taken care of by Ennismore upon completion in March 2024. The procurement will certainly be added to the holdings of institutional flexible real estate fund UniInstitutional European Real Estate.
Andreas Löcher, head of financial investment administration hospitality at Union Investment, stated: “Copenhagen is one of Europe’s top hotel markets with high obstacles to entry. Paper Island will provide a high-quality customer experience and also is anticipated to attract up to 1.9 million site visitors a year in the future.”
Furthermore on the island, a mixed-use area is being produced which is readied to include 253 apartments, retail, food as well as beverage locations, occasion rooms, as well as the Water Culture House.
The seller, Christiansholms Ø P/S, is a joint venture in between Danica Pension and also Dansh job developers Nordkranen and UNIONKUL.
Mads Nørby Hansen from Nordkranen claimed: “The global hotel principle 25hours is recognized for their urban atmospheres and unusual designs. Each hotel is based upon site-specific background and area characteristics, which harmonise with the curatorial account of the Paper Island project. It is an island with a commercial past and a new vision for the future: a metropolitan sanctuary where we, together with 25hours as well as various other passionate business owners, will certainly mount the city’s new quarter and locations.”
Union Investment was recommended on legal elements of the bargain by Kromann Reumert. CØ P/S was suggested by Bruun & Hjejle as well as Catella Corporate Finance.
Andreas Löcher, head of financial investment monitoring hospitality at Union Investment, claimed: “Copenhagen is one of Europe’s leading resort markets with high barriers to entrance. Mads Nørby Hansen from Nordkranen stated: “The international resort concept 25hours is understood for their urban atmospheres and also non-traditional layouts. Each hotel is based on site-specific history and also location characteristics, which harmonise with the curatorial profile of the Paper Island project.
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