21 March 2017, Copenhagen, Denmark | Corporate Finance | News
Catella Corporate Finance acted as exclusive financial advisor to Bach Gruppen in a forward sale of a 30,000 sq.m. residential development project, centrally located in Copenhagen.
The first phase of Bach Gruppen’s iconic development project in central Copenhagen, “Bryggen’s Bastion” has been divested as a turnkey project to the Swedish real estate company Heimstaden AB for EUR 160 million.
With this transaction, the privately held Bach Gruppen, will deliver three turnkey projects to Heimstaden in three phases during 2018-2021. The properties include approx. 27,500 sq.m. of residential units and approx. 2,500 sq.m. of commercial space; one of the properties is a 23-storey high-rise landmark building, 86 metres tall. The entire Bryggen’s Bastion consists of approx. 125,000 sq.m. that will be erected during the coming years.
“This project has attracted substantial investor interest, both locally and internationally, and shows the investor confident in a continued prosperous development in Copenhagen”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.
“The size and complexity of this project is well matched to the ambition and positioning of our Nordic and European corporate finance activities as being the link between property and finance. Strong local presence and a truly wide global investor reach built over more than 30 years in real Estate M&A transactions remains core in the Catella DNA,” says Jesper Bo Hansen.