The properties are part of Bach Group project "Bryggen Bastion", located at Islands Brygge metro station in central Copenhagen.
 
The total area amounts to approximately 30,000 sqm spread over two blocks property and a 86 meter high tower.
 
Sellers are Bach Gruppen A/S and the transaction value is approximately DKK 1.2 billion (EUR 161M).
 
"We carry out our first new construction in Copenhagen in an attractive central location in Islands Brygge, only a five minute bike ride from downtown. The area Bryggen Bastion will be an attractive residential area with its proximity to the university and city life. Construction will begin immediately and is delivered in three stages between 2018 and 2021. We look forward to working closely with Bach Group in the development of Copenhagen," says Magnus Nordholm, EVP of Heimstaden.
 
The properties will be delivered in the form of company and accessed in three stages starting in 2018 until 2021. The acquisitions will be financed partly with cash and partly with real credits.
 
Advisor to the seller has been Catella Corporate Finance and Plesner. Gorrissen Federspiel has advised Heimstaden.
 
At the same time Heimstaden also makes an acquisition in Sweden where the company buys 56 properties in Falköping from Balder. The transaction price is MSEK 593.3 (EUR 63M).
 
”We have long had the gaze towards Västra Götaland and are excited to make our first acquisition in the region. Falköping has for a long time had a positive population trend and feels like a stable community with excellent communications. We will take over the existing administrative organization and our ambition is to develop the portfolio of the most attractive in the locality," says Fredrik Årman, Senior Investment Manager at Heimstaden.

Panreal has been Heimstadens advisor in the Falköping deal.