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Skanska Sells Four Office Buildings for $127M

COPENHAGEN-Skanska Project Development Sweden is selling three office buildings here and another in nearby Ballerup to the Norrporten real estate company.

By Brian K. Miller | Updated on January 13, 2005

COPENHAGEN-Skanska Project Development Sweden is selling three office properties here to the real estate company Norrporten for $127 million. The sale, which is scheduled to close Feb. 1, marks Sundsvall, Sweden-based Norrporten’s entrance into Denmark.The largest of the properties is Kalvebod Brygge 43-45, a two-building, 172,200-sf development in the Sydhamn district of central Copenhagen. The buildings were completed in 2001-2002. The other properties involved in the transaction are Peblingehus, a 129,166-sf property at Nansensgade 19 in Copenhagen that was renovated in 2001, and a 150,000-sf building at Baltorpvej 154-158 in nearby Ballerup. The purchase is Norrporten’s first foray into the Danish Market. Company president Anders Wiklander says one of Norrporten’s goals is to build “an attractive property portfolio” in Copenhagen. Skanska says its capital gain on the sale amounts to about $33 million. The gain will be reported in the first quarter of 2005. Skanska Project Development Sweden president Claes Larsson says the proceeds demonstrate the company’s ability to create value through its development process.Skanska Project Development Sweden focuses primarily 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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