Danish listed property group Sjælsø has signed an agreement to sell over 100 apartments to PKA, an administration company for Danish pension funds, for DKK 325 mln (EUR 43 mln).
Danish listed property group Sjælsø has signed an agreement to sell over 100 apartments to PKA, an administration company for Danish pension funds, for DKK 325 mln (EUR 43 mln).
The apartments are to be built as part of Sjælsø's residential project at Lyngby Søpark. The project comprises a total of 172 apartments spread over nine blocks. Forty-two apartments were completed in 2009 as owner-occupied apartments.
Construction of the remaining 130 apartments, which have been sold to PKA, is scheduled to start in the third quarter of 2010. The apartments are expected to be delivered in the period from autumn 2011 to spring 2012.