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C&W/H&B announces Danish Associate Office
22 Mar, 2005, Copenhagen
Danish independent property adviser RED in Copenhagen has become an Associate office of Cushman & Wakefield Healey & Baker (C&W/H&B).
As an Associate office, RED will represent C&W/H&B in the Danish market, as well as pro-viding the link between C&W/H&B and Danish real estate investors, retailers and corporates looking for representation outside Denmark.
C&W/H&B now covers all of the Nordic region, with its own office in Sweden, an Associate office in Norway, Mork & Partners, and a newly appointed Associate office in Finland, Yritysresurssit Oy.
Eric Van Leuven, Partner, C&W/H&B, says: "Denmark has emerged as an important regional centre, in particular since the opening of the Øresund Bridge in 2000 linking Denmark with Sweden. We are a global company, but our strength lies in having strong local knowledge and experience, which is why we have formed the association with RED to cover the Danish market."
RED, which stands for Real Estate Denmark, is led by four Senior Partners: Steen Winther-Petersen, MRICS, (age 55), who is also Chairman of the Danish Association of Chartered Estate Agents, Nicholas Thurø, BSc (30), Bjarne Jensen, MRICS (49) and Claus Bælum, MSc (34). The firm was set up in January 2004, and since then has grown to become a highly recognised independent player in the Danish market, winning instructions in its first year of operations valued at more than €125mn.
RED's four Senior Partners have an average length of experience in commercial real estate of 14 years. Two of them, Steen Winther-Petersen and Bjarne Jensen, established the commercial division of a real estate franchise company where they met Nicholas Thurø. Claus Bælum joined RED once it was set up: previously he held a senior position in another real estate company.
Bjarne Jensen, Senior Partner of RED, comments: "Our association with C&W/H&B will allow us to service our clients better, and clients of C&W/H&B looking to enter or expand in the Danish market. On the corporate side, more than 500 companies have either their Nordic or European HQ in Copenhagen. The development of Orestad City, for example, between the historic centre of the Danish capital and the airport, is playing a key role in maintaining the attractiveness of Denmark as a corporate location.
"In addition, Danish investors are looking to invest in prime offices let on a long lease to a blue chip corporate, and they are not finding enough product of this kind in Denmark. As a result, they are starting to focus outside Denmark, and our new association agreement with C&W/H&B will help us to service these needs. We are expecting that Danish investors will mostly be looking to invest outside Denmark through indirect investment funds, which in addition is an area in which C&W/H&B has expertise."
Another strength of the association with C&W/H&B is that both firms are private and independent, says Bjarne Jensen. "We believe that providing the best long-term advice to our clients, and working truly in partnership with them, offers a win-win situation for both parties," Bjarne Jensen adds.