Scandinavian shopping centre group Steen & Strøm has signed an agreement to acquire a 40,000-m[sup]2[/sup] shopping centre and 18,000-m[sup]2[/sup] commercial property in Odense, Denmark for DKK 230 mln (almost EUR 31 mln). The vendor is a subsidiary of listed Danish property company Fornebu Utvikling (FBU). A separate offer for the properties put forward earlier this week by TK Development was not accepted.
Scandinavian shopping centre group Steen & Strøm has signed an agreement to acquire a 40,000-m2 shopping centre and 18,000-m2 commercial property in Odense, Denmark for DKK 230 mln (almost EUR 31 mln). The vendor is a subsidiary of listed Danish property company Fornebu Utvikling (FBU). A separate offer for the properties put forward earlier this week by TK Development was not accepted.
The transaction is expected to be carried out in April 2011.
FBU plans to sell its remaining holdings in Odense during second half of 2011.
Steen & Strøm is jointly owned by French real estate company Klépierre and Dutch pension group ABP. The two investors acquired the shopping centre group for about EUR 2.7 bn in 2008.
