Heimar hf. Acquires Properties in Downtown Reykjavik

Heimar hf. has completed its acquisition of all shares in Tryggvagata ehf., a deal first announced on February 20, 2025. The transaction, finalized on June 10, 2025, saw MF2 hs. and Laxamýri ehf. as the sellers.

The acquired properties are located at Tryggvagata 14 and Tryggvagata 10 in central Reykjavik, totaling approximately 5,500 square meters of floor space. The portfolio includes a 106-room, four-star hotel, operated by Exeterhouse ehf. as Exeter Hotel, and an adjacent office building.

Both properties are fully leased. The office space is occupied by Aton Jl. Exeter Hotel is described as a prominent hotel in Reykjavik, situated in a prime location overlooking the harbor. The hotel was constructed in 2018 and is noted for its modern design and service.

Heimar hf. stated that the acquisition aligns with its strategic priorities, as the properties fall within the company's designated core operational areas. The purchase was financed through a combination of cash and assumption of debt. Legal advisors for Heimar hf. were LEX, and BBA // Fjeldco advised the sellers.