Skanska Project Development Sweden is selling the Kalvebod Brygge 43-45 and Nansensgade 19 properties in Copenhagen and the Baltorpvej 154-158 property in Ballerup to the Norrporten real estate company for a total of DKK 717 million, approximately SEK 870 million.
The capital gain amounts to DKK 185 million, SEK 225 million, and will be reported in the first quarter of 2005. The transfer will be on February 1, 2005, at which time payment will also be made.
Kalvebod Brygge 43-45 comprises two office buildings with total floor space of 16,000 mÂ² in the Sydhamn district of central Copenhagen. The buildings were completed in 2001-2002.
Peblingehus, at Nansensgade 19, is an office property with about 12,000 mÂ² of floor space that was renovated in 2001.
The Baltorpvej 154-158 property is an office property with about 14,000 mÂ² of floor space.
'From a Skanska perspective the sold portfolio is now fully developed. The results demonstrate the value creation of our development process,' says Claes Larsson, President of Skanska Project Development Sweden. 'It is also pleasant to be able to present Norrporten as a new player in the Danish market.'
'This investment is a good start in our ambition of building an attractive property portfolio in Copenhagen,' says Anders Wiklander, President of Norrporten. 'We are also pleased to be able to carry out this transaction with Skanska, which has newly produced or developed the actual properties.'