Movinn has acquired colleague and competitor, Copenhagen Suites
Movinn has just acquired competitor and colleague, Copenhagen Suites.
Copenhagen Suites is a subsidiary of the listed real estate company, Copenhagen Capital A/S. CC wanted to focus on their core business in real estate investments and development, with Movinn being fully focused on growing and developing their Serviced Apartment business.
Copenhagen Suites has built a substantial portfolio of primarily 1-bedroom Serviced Apartments in great locations, so by this acquisition Movinn will have a more diversified portfolio of apartments and we will cover more neighborhoods in Copenhagen.
The Parties started a structured process in January and sealed the deal in mid-april.
Other than acquiring Copenhagen Suites, Movinn will get a strong, strategic partner in Copenhagen Capital going forward.
The synergy effects are obviously vast and the deal a win-win for both parties, making this a match made in serviced apartment heaven.
We can't wait to meet our new Clients and to deliver our well-known and high degree of service to everybody.