Prisma acquires grocery property in Denmark
Coop Kvickly in Værløse
Prisma acquires grocery property in Denmark
Prisma Properties has entered into an agreement to acquire a fully let grocery property in Værløse, outside Copenhagen. The underlying property value amounts to DKK 75.5 million. The property comprises approximately 3,300 square metres of lettable area and is fully let to Coop Kvickly with a long remaining lease term.
The property is located in Værløse, in an established retail and service area surrounded by larger residential neighbourhoods. The lease agreement with Coop Kvickly, which occupies the entire lettable area, has recently been extended.
The acquisition strengthens Prisma’s exposure to the grocery and daily goods segment, which is a priority segment for the company. Including properties under construction and signed lease agreements, the segment accounts for close to fifty per cent of Prisma’s portfolio.
The acquisition is expected to increase earnings per share by 0.58 per cent compared with the latest interim report.
“We are adding a modern, fully leased property in a strong local retail location with a long remaining lease term. The acquisition strengthens Prisma’s position within grocery and daily goods retail, and it is particularly positive that we are increasing our exposure to the grocery segment in Denmark, a direction we intend to continue pursuing”, says Tom Hagen, Deputy CEO and Head of Transactions at Prisma Properties.
The acquisition will be carried out as an asset transaction, with closing scheduled for 15 September.
In connection with the transaction, BAHR acted as legal adviser and JLL as technical adviser.