Balder AB Strengthens its Commitment to the Capital of Denmark
- Jul 21, 2015
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.