Balder AB Strengthens its Commitment to the Capital of Denmark
Balder AB is expanding its multifamily portfolio following the announcement that it has acquired a large development project from Skanska and the proceeding of one of its other development ventures in Copenhagen.
By Alex Girda, Associate Editor
Copenhagen, Denmark—Balder AB is expanding its multifamily portfolio following the announcement that it has acquired a large development project from Skanska and the proceeding of one of its other development ventures in Copenhagen.
A residential development project located in the capital of Denmark was sold by Scandinavian real estate company Skanska. Balder paid Skanska a total of around $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 offers residents proximity to coastline of Oresund, Amager Strandpark and the Oresund Metro Station. The 450,000-square-foot multifamily 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.
