City Danmark, a company established by Nordic investment bank Pareto Securities, has acquired a hotel in Copenhagen from developer Skanska for DKK 670 mln (€90 mln).
The hotel is located in Scanport close to Copenhagen airport and the Oresund Bridge, and comprises 25,200 m2, of which 19,000 m2 is hotel and conference facilities and 6,200 m2 is basement and underground parking.
The 357 room-hotel is fully leased and will be operated by Scandic, which has signed a 20-year lease agreement.
The project is being executed in cooperation with contractor KPC København, with construction planned for completion in December 2020.
