ATP Real Estate og Danica Pension
The two Danish pension providers ATP Real Estate and Danica Pension have established a joint venture with 16 distinct, Danish shopping centres at a total value of DKK 13.8 billion.
The transaction is the biggest in Denmark ever.
The portfolio has for a number of years been owned by Danica Pension, which has now sold 50 % hereof to ATP Real Estate in an effort to rebalance its property investments.
The portfolio includes 16 centres all over Denmark, however mainly in Greater Copenhagen, and some of the largest and most attractively situated centres. The portfolio covers a total area of approx. 400,000 sqm and has approx. 1,100 tenants. Every year, the centres have more than 65 million visitors.
Development projects at a total value of almost DKK 1 billion are ongoing in several of the centres.
Michael Nielsen, Managing Director of ATP Real Estate, says:
"We are very satisfied with the addition of this significant investment to our property portfolio. The investment supports our goal of long term, stable yields and a solid diversification of risks. Together with Danica we will improve the centres' position in the Danish market and maintain the appeal to both customers and tenants by following the new trends in the retail trade where e-commerce plays an increasing role. In future, shopping centres will to an increasing extent become experience centres."