Copenhagen City & Port Development, ATP and PensionDanmark behind greatest property transaction of the year (DK)

Copenhagen City & Port Development, ATP and PensionDanmark have established a consortium which will acquire – at a price exceeding DKK 2.1 billion (approx. €282 million) – the 45,000-m² UN City at Marmormolen in Copenhagen.


Visualization of Marmormolen with UN city in the foreground.

Included in the transaction are additional building rights for two office tower blocks at a total of 60,000 m², located at Marmormolen and at the north point of Langelinie, respectively.

City & Port, ATP and PensionDanmark invest a total of DKK 2.1 billion in the new Consortium. The ownership of the Consortium will be shared between City & Port (8.5%), ATP and PensionDenmark (45.75% each).

Jens Kramer Mikkelsen, Managing Director of CPH City & Port says: "The UN City is a unique building of great potential, which will surely serve as a lever in the development of a new international city section at Marmormolen.

"I am looking forward to the future cooperation with PensionDanmark and ATP, which will ensure an economically sustainable development of the area for the benefit of Copenhageners and pension customers alike."

Lars Rohde, CEO, ATP: "The investment in the UN City tallies very well with our strategy of investing in real estate. Here we are dealing with a state-of-the-art office building in a fantastic location, and the property has been rented out to the UN on a long lease. The intense focus on sustainability in its broadest sense is another advantage.

"In addition, we are looking forward to participating in the development of the new office buildings at Langelinie and Marmormolen, which are among the best locations in Copenhagen."

Torben Möger Pedersen, CEO, PensionDanmark says: "The investment at Marmormolen will yield good and steady returns to our members. That is important given the current uncertainties in the financial markets and record-low bond yields. At the same time, we are proud to participate in the development of Copenhagen's new international city section. The UN City will create jobs for 1,500 people – Danish as well as foreign – and have lots of foreign visitors.

"Consequently, this city section will become an important exhibition window of Copenhagen as the dynamic green metropolis of Northern Europe. The building of the UN City and of the two office buildings to come will also create jobs for many hundreds of construction workers for the years to come."

Source: ATP Ejendomme A/S

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