German real estate investor Patrizia has inked a deal with Scandinavian construction and development firm MT Højgaard to forward fund Project ACMV, a 19,000 m2 residential scheme in Copenhagen, Denmark.
The transaction volume was not disclosed. Catella advised MT Højgaard on the deal.
'As one of the most active investors in Copenhagen, Patrizia continues to demonstrate trust in the long-term growth of Copenhagen, and we are pleased to have found a solution to this interesting development project that is attractive for both MT Højgaard and Patrizia,' commented Jesper Bo Hansen, head of corporate finance at Catella.
Located at A.C. Meyers Vænge, at Teglholmen in Copenhagen’s South Harbour, the scheme comprises 120 residential apartments and 56 townhouses as well a common areas, green spaces and a few commercial units.
Patrizia will act as owner during the construction phase, while MT Højgaard will as turnkey contractor, delivering the project in stages throughout 2019.
'Copenhagen, and particularly the Copenhagen Harbour, is in a process of change; former trade and urban industrial areas are being transformed into vibrant residential neighbourhoods. This, too, goes for Copenhagen’s South Harbour, whose growth is being stimulated further by the expansion of the Copenhagen subway,' concluded Bo Hansen.
