Croisette secures a prestigious deal in Iceland
The U.S. Embassy in Iceland has assigned Croisette Real Estate Partner Iceland to broker the divestment of the old embassy building in Reykjavík.
The embassy consists of four properties with an equal number of historical buildings that were home to the embassy from the 1940s until the embassy moved its operations to Engjateigur.
The four properties are in downtown Reykjavík and entail both residential and office units. In the sale process, Croisette is primarily targeting construction companies and property investors. The combined size of the edifices is roughly 2,000 square meters and their combined assessed value amounts to roughly ISK 550 million.
In late 2020, Swedish property advisor Croisette became the first international property advisor to set up an Icelandic office. Thedivestment of the old U.S. embassy is a big and important assignment for the company, secured through its international network, more specifically through cooperation with Cushman & Wakefield in London.
According to Styrmir Bjartur Karlsson, managing director of Croisette Iceland, it is an exciting task, and he says that the properties bring various opportunities for both contractors and investors.
"We are extremely proud to be chosen by the U.S. government to divest their old embassy in Reykjavík and this demonstrates the importance of our international network as well as information to international clients in increasing the transparency of the Icelandic property market."
- Styrmir Bjartur Karlsson, CEO Iceland, Croisette Real Estate Partner
Per Svensson, founder, and CEO of Croisette Real Estate Partner emphasizes that it is a great honor to be able to call the U.S. government a client of Croisette’s.
"Not only does it confirm that we made the right decision in setting up an Icelandic branch, but it also promotes our brand internationally. We look forward to securing additional similar assignments going forward, not only from the U.S. government."
- Per Svensson, CEO, and founder of Croisette Real Estate Partner