Balder AB Keen on Copenhagen
- Jul 22, 2015
Balder AB is expanding its multi-family portfolio by acquiring a large development project from Skanska in Copenhagen.
Balder paid Skanska $150 million for the residential community. Skanska will stay on as construction manager for the large apartment project where construction is already underway. Following the acquisition of the 430-unit development project, Balder has roughly 600 units under development in the Danish capital.
Located in a developing residential submarket in the vicinity of Copenhagen’s core, the project will offer residents proximity to coastline of Oresund, Amager Strandpark and the Oresund Metro Station. The 450,000-square-foot multi-family project is slated for completion in September 2018.
Balder’s other project is a 160-unit residential development that will take shape in Orestad Syd, near one of the company’s other communities.