Heimar hf. Completes Acquisition of Tryggvagata ehf.
Heimar hf. has successfully concluded its acquisition of all shares in Tryggvagata ehf. This strategic move reflects Heimar's commitment to expanding its portfolio with valuable properties. The sellers involved in this transaction were MF2 hs. and Laxamýri ehf., and the deal was finalized through a combination of cash and debt assumption.
Details of the Properties Acquired
Tryggvagata ehf. owns prime real estate situated at Tryggvagata 14 and Tryggvagata 10 in a bustling area. The total area of these properties is approximately 5,500 square meters. Among the assets included in this acquisition is a 106-room, four-star hotel, ideally positioned in the city center, as well as an adjoining office building.
Characteristics of the Hotel and Office Space
The newly acquired properties are fully leased, housing reliable tenants like Exeterhouse ehf., which operates the esteemed Exeter Hotel, and Aton Jl. Over the years, Exeter Hotel has built a reputation as one of Reykjavík’s finest establishments, enjoying a coveted location that offers stunning harbor views. Modern design elements and exemplary service have ensured a high occupancy rate for the hotel, contributing to long-term value creation.
Strategic Implications of the Acquisition
The properties, built in 2018, fall within Heimar’s identified core operational areas. This acquisition is perfectly aligned with the company's strategic priorities, reinforcing its foothold in vital locations.
Remarks from Company Executives
Halldór Benjamín Þorbergsson, CEO of Heimar, expressed his enthusiasm regarding this acquisition. He stated, "The acquisition of these high-quality, centrally located properties in the heart of Reykjavík represents a significant milestone in Heimar’s growth journey. The Exeter Hotel brand resonates with our commitment to quality and aligns with our long-term vision. This deal positions us to enhance our property portfolio with premium leased assets, ensuring ongoing value creation for our shareholders. We look forward to fostering collaboration with the current tenants and extend our gratitude to the sellers and their advisors for their professionalism throughout this process."
Response from the Seller
Hjalti Gylfason, Chairman of the Board of Laxamýri ehf. and Owner of Exeterhouse ehf., shared his thoughts on the transaction, saying, "We are pleased to pass on the properties we developed to a robust real estate company like Heimar. Exeterhouse ehf. will maintain management of the hotel under its established brand, and we eagerly anticipate continuing our commitment to quality service at this exceptional location in partnership with Heimar."
Legal Advisory in the Transaction
LEX served as the legal advisor for Heimar during this acquisition, while BBA // Fjeldco provided advisory services to the sellers, ensuring a smooth transaction process.
For More Information
For additional information regarding this acquisition, please contact Halldór Benjamín Þorbergsson, CEO of Heimar, at +354 821 0001.
Frequently Asked Questions
What properties have been acquired by Heimar hf.?
Heimar hf. has acquired Tryggvagata ehf., which includes two properties in downtown Reykjavík, featuring a hotel and office building.
What is the significance of the Exeter Hotel?
The Exeter Hotel is recognized as one of Reykjavík’s leading hotels, known for its modern design and excellent service, contributing to consistent high occupancy.
Who were the sellers of the property?
The sellers of the properties were MF2 hs. and Laxamýri ehf.
What are the key strategic benefits of this acquisition?
This acquisition aligns with Heimar’s strategic priorities by enhancing its property portfolio with premium leased assets in ideal locations.
How can I get in touch with Heimar hf.?
For inquiries related to the acquisition or other matters, you can contact Halldór Benjamín Þorbergsson, CEO of Heimar, at +354 821 0001.
