Swedish property group Heimstaden has acquired two residential projects in the Danish capital Copenhagen for DKK 790 mln (€106 mln).
Heimstaden acquired the projects, Kanalkajen and Nordkajen, via its Danish subsidiary. The transaction involved the acquisition of a company jointly owned by PenSam, Sjælsø Management and KPC.
Comprising 246 homes on 21,500 m2, the projects are located on Teglholmen in Sydhavnen, a waterfront district which has been undergoing a major revitalisation in the last two decades. Completion of the projects is scheduled for December 2018 and April 2019.
Magnus Nordholm, deputy CEO of Heimstaden: 'We are excited to continue to grow in the Danish capital and expand our existing portfolio with these fine properties on Teglholmen. The properties are of high quality and through our experience and knowledge of the rental on Teglholmen we are confident that the outcome of the acquisition will be good.'
