Skanska Sells Copenhagen Hotel to Pareto Company
Denmark Skanska has divested a hotel building in Copenhagen for MDKK 670 (EUR 90M). The buyer is City Danmark A/S – a company established by Pareto Securities. The transaction will be recorded by Skanska Commercial Development Nordic in the fourth quarter 2018. The transfer of the property is scheduled for the first quarter 2021.
The hotel is located in Scanport close to Copenhagen airport and the Øresund Bridge. The building covers 25,200 sqm, of which 19,000 sqm hotel and conference facilities and 6,200 sqm basement and underground parking.
Including 357 rooms the hotel is fully leased and will be operated by Scandic, who has signed a 20-year lease agreement.
The project is executed in cooperation with the contractor KPC København A/S and construction is planned for completion in December 2020.