Danish pension scheme PKA has acquired a combined office and retail project in central Copenhagen for about EUR 81 mln. The vendor is Sweden's NCC Property Development.
Danish pension scheme PKA has acquired a combined office and retail project in central Copenhagen for about EUR 81 mln. The vendor is Sweden's NCC Property Development.
PKA will assume ownership of the property on completion of the development in the summer of 2012.
The project comprises a total of 29,000 m2 of floor area, of which office space accounts for 21,000 m2 , retail space for 3,000 m2 and an underground parking garage for 5,000 m2. Some 7,643 m2 of floor space has already been leased to Dan-Ejendomme, which will assume occupancy in May 2012.
The project is being implemented as a turnkey contract by NCC Construction Denmark. Construction will commence this month.