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New Denmark Office Building Trading at $51M

COPENHAGEN-Skanska is selling the 156,000-sf office building it is developing here to the holding company for Forstædernes Bank, which had signed a lease for the entire building that included a purchase option.

By Brian K. Miller | Updated on August 19, 2004

COPENHAGEN-Skanska has agreed to sell Kalvebod Brygge 47, a new 156,000-sf (14,500 sm) office building it is developing here for $51million (426 million Kronor). The buyer is FB Ejendomme A/S, which is exercising the purchase option included in the previously signed lease for Forstædernes Bank’s new head office on Kalvebod Brygge. The building will be ready for occupancy sometime in the fourth quarter of 2005. The buyer assumes ownership of the property on November 1, 2005, at which time payment is due. Skanska officials in Sweden could not be reached Thursday morning for further comment on the transaction due to the time difference. Skanska Project Development Sweden focuses on the initiation, development, management and sale of commercial property projects (offices, logistics and volume retail centers). The main emphasis is on Stockholm, Gothenburg and the Öresund region.

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