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

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CBRE foresees strong growth in the Danish property market. Onenotable trend is the erosion of the traditional preference forowner-occupancy among local companies, which has madesale-leaseback transactions an attractive option. The popularity ofsale-leasebacks, alongside strong economic growth, are expected tocontinue to draw a growing number of international investors toboth Denmark and the wider Scandinavian region.

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"Denmark and the entire Nordic region is of strategic interestto our clients," notes Mike Strong, president of CBRE Europe,Middle East and Africa in a prepared statement. "Cederholm is awell established business with an excellent reputation and strongmarket position in Denmark This transaction is a key building-blockin the development and expansion of our operations acrossScandinavia."

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In a recent global market report, NAI Global found thatCopenhagen's commercial market was strong. The capital city has acommercial vacancy rate of less than 5%, the report says.

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Henrik Cederholm, managing director at Cederholm notes that "CBRichard Ellis' global platform and strength in the marketplace willnow give us an enhanced opportunity to grow our position both inDenmark and internationally. Both companies' clients will benefitenormously from our combined expertise at a time of increasedinterest and activity in Denmark's commercial real estatemarket."

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