Transactions - DECEMBER 20, 2016

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ATP Real Estate JV to develop €400m Copenhagen building

by Andrea Waitrovich

Denmark-based ATP Real Estate and Danica Pension have entered into an agreement for joint ownership of a new office building to be developed at Postgrunden in Copenhagen. ATP Real Estate and Danica Pension will each hold 50 percent of the project once completed, subject to obtaining final planning consent.

The property is expected to comprise 710,000 square feet of commercial leasable area. The value of the project is estimated at approximately €400 million ($415 million) in total.

The building is expected to be completed in the beginning of 2022.

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