The property, which has a lettable area of approximately 31,000 sq.m. and around 10,000 sq.m. of garage space, is almost fully let, with Codan being an anchor tenant. The rental value amounts to DKK 65 million per year, the economic occupancy rate is 98 per cent and the average remaining lease contract period is around three years.

This is Klövern's second acquisition in Copenhagen. On 1 February 2018 the first acquisition was taken possession of, an office property which is fully let on a long contract with Copenhagen Business School.

"It is very gratifying that we can acquire an additional very nice property in central Copenhagen. The acquisition gives us a critical volume to establish a property management organization. Copenhagen will be a strategically long-term position for Klövern", says Rutger Arnhult, CEO of Klövern.

The acquisition is intended to be primarily financed with bank loans.

Transfer of possession is planned to take place on 1 March 2018.