Swedish property firm Balder has bought the Stævnen residential property in Copenhagen for DKK 150 mln (EUR 20 mln), in line with the asset's book value. The vendor is Danish listed property firm Sjælsø Gruppen.
Swedish property firm Balder has bought the Stævnen residential property in Copenhagen for DKK 150 mln (EUR 20 mln), in line with the asset's book value. The vendor is Danish listed property firm Sjælsø Gruppen.
Completed in 2009, the scheme comprises 75 apartments in the Ørestad Syd area of the Danish capital.
'The agreement with Balder underlines the growing interest in the Copenhagen property market from financially strong Swedish investors,' said Flemming Joseph Jensen, CEO of Sjælsø. The company expects to continue to sell residential projects in the Greater Copenhagen area to Danish as well as international investors, he added.
Erik Selin of Balder added: 'The continuing population growth in Copenhagen as well as the historically low prices for well-located residential properties is a good background for investing in properties in Copenhagen.'
The acquisition comes hard on the heels of Balder's purchase last month of a property at Lilla Torg in central Malmö, Sweden, for SEK 400 mln (EUR 45 mln).
