CBRE Acquires Danish Firm for $43M

COPENHAGEN-Los Angeles-based CB Richard Ellis Group has acquired its affiliate company in Denmark for $43 million. The purchase of CBRE Cederholm strengthens CBRE’s platform in Scandinavia, by making the firm a wholly owned part of CBRE.

Cederholm had been an affiliate of CBRE since 1999. The business had been founded the prior year by Henrik Cederholm. With 60 employees, it has offices in Aarhus and Kolding, in addition to the capital city of Copenhagen.

CBRE foresees strong growth in the Danish property market. One notable trend is the erosion of the traditional preference for owner-occupancy among local companies, which has made sale-leaseback transactions an attractive option. The popularity of sale-leasebacks, alongside strong economic growth, are expected to continue to draw a growing number of international investors to both Denmark and the wider Scandinavian region.