Triple-digit million kroner
investment in Ørestad
Triple-digit million kroner investment in Ørestad
The Sampension joint management company (consisting of Sampension, the Architects’ Pension Fund, the Pension Fund for Agricultural Academics and Veterinary Surgeons and ISP Pension) and MP Pension have made a joint investment for a triple-digit million kroner amount in Bellakvarter in Ørestad, Copenhagen.
Under the terms of the agreement, the Sampension joint management company holds 66.67% and MP Pension 33.33%, and the investment, among other things, entitles the owners to building rights for more than 120,000 sqm of residential property, 100,000 sqm of office property and the establishment of a number of retail units, day-care facilities and a large number of covered parking spaces in the Bellakvarter in Ørestad. The sellers are Bella Solstra, represented by Solstra Capital Partners, and a number of minority shareholders. Solstra Capital Partners will continue as a collaboration partner with respect to project development.
Accura has acted as adviser to the consortium of pension funds regarding all parts of the transaction, including due diligence investigations, conclusion of transfer agreement and transaction insurance. Several Accura departments have been involved in the transaction, including Real Estate, Corporate & Commercial, Banking & Finance, Data Protection/GDPR, Employment and EU & Competition.
The transaction, which is expected to be finalised at the end of January, is contingent on the approval of the competition authorities.