Slate and OneIM acquire retail and residential assets from NREP in Greater Copenhagen, marking Slate’s Denmark debut and boosting its essential real estate portfolio.

StepStone Real Estate (SRE), the property arm of investment firm StepStone Group, along with Nrep, the real estate division of Urban Partners, has announced the sale of a portfolio consisting of five grocery-anchored retail centers and two neighboring residential assets located in Greater Copenhagen.

The portfolio is being bought by a joint venture between OneIM, an international alternative fund manager that makes investments across the capital structure in a range of asset classes, and Slate Asset  Management a global investment firm focused on managing and investing in critical infrastructure and essential real estate properties.

OneIM is Slate's financial partner, and this is the first contract for their joint company. The joint venture is actively looking for additional purchases in Europe's crucial retail industry. The purchase expands Slate's portfolio of valuable, premium real estate assets in Europe and is the company's first investment in Denmark.

Every property in the portfolio is close to the city's five main transit hubs and in a densely populated neighborhood (Vallensbæk Stationstorv Syd, Frihedens Butikscenter, Holte Midtpunkt, Stationscenter Lyngby, and Taastrup Torv). More effective renter and consumer journeys have also been facilitated by the introduction of new ideas and general upgrades, increasing activity and turnover in the neighborhood.

Leading regional grocers and some of the biggest and most successful retail chains in Europe currently run the buildings in the portfolio. With the remaining vacancies being leased and the portfolio being actively managed, there is immediate upside potential even though it is now well-occupied.