International real estate company Hines on behalf of the Hines Pan-European Core Fund (HECF) received support from luxury retailers Jimmy Choo and Golden Goose Deluxe Brand on Købmagergade7 in Copenhagen, Denmark.
Jimmy Choo agreed to lease a 200-square-meter unit and will open its first store in Købmagergade7, Denmark. Jimmy Choo has a complete luxury accessories brand. Women’s shoes are still the core of the product, handbags, leather goods, scarves, sunglasses, glasses, belts, perfumes and men’s shoes are still the core of the product. The new store is expected to open later this year.
Italian luxury fashion retailer cheap golden goose Deluxe Brand joins Jimmy Choo. In addition, the Golden Goose luxury brand will open its first store in Denmark and will lease a 115 square meter unit, which is expected to open later this year. The store will stock the brand’s iconic lifestyle products, including ready-to-wear accessories and footwear, as well as a modern, old-fashioned, worn-out feel.
A spokesperson for the Golden Goose Luxury Brand said: “There are many flagship stores in some of the world’s most exclusive cities, such as Milan, Seoul, Tokyo, Amsterdam, Zurich, Paris, New York, London, Los Angeles, Venice, Rome, etc. Other aspects The latest opening in Copenhagen adheres to the company’s goal of strengthening retail development and global reach.”
In July 2017, Hines acquired a portfolio of four major retail-led mixed-use assets in Copenhagen on behalf of its pan-European core fund. The product portfolio is located in Købmagergade, a city retail center, covering an area of 3,200 square meters. There is a pedestrian shopping street in the area, home to many of the city’s luxury brands. The acquisition is HECF’s first investment in Denmark and the second investment by Hines. Hines previously acquired a retail portfolio on behalf of its separate account with Bayerische Versorgungskammer. Since then, the company has further acquired the Hines European Value Fund in Copenhagen earlier this year.
Peter Epping, senior managing director and fund manager at HECF, said: “The acquisition of these four major assets in July 2017 represents the fund’s first investment in Copenhagen, an increase in population in the region, and population Growth and relatively low retail brand saturation have made the region an attractive investment proposition. We are pleased to further improve the retail portfolio of our portfolio by adding Jimmy Choo and Golden Goose.”
James Robson, Head of Hines Nordics Country, added: “Købmagergade7 in the heart of Copenhagen offers an ideal location for iconic brands to launch products in the Danish market, and we look forward to opening later this year.”
HECF’s portfolio has accounted for 99.6% in the first quarter of 2018 and is currently investing in eight different European countries with a total value of nearly 1.2 billion euros. It received the highest score of five Green Stars and was recognized as a global industry leader in the 2017 Real Estate Assessment by the Global Real Estate Sustainability Benchmark (GRESB).
Hines is represented by Cushman & Wakefield | Red on the Golden Goose luxury brand lease. Absalon&Co and Harper Dennis Hobbs represent tenants in the Jimmy Choo deal