DWS has acquired the high-rise building Bella Tower in the new Copenhagen district Bellakvarter in Ørestaden, Denmark. Bella Tower includes a 5-storey base and a 19-storey tower and marks the entrance to Bellakvarter with its distinctive characteristics. The newly built residential property consists of 199 residential units and a total Gross Leasable Area of 16,656 sq m. The building has been developed by Solstra Development on behalf of Bellakvarter A/S, a company owned by Danish pension funds Sampension (66%) and AkademikerPension (33%).

Bellakvarter is a midterm German Sustainable Business Council (DGNB) Gold-certified development area within walking distance of Denmark’s largest shopping mall (Field’s), Scandinavia’s largest convention centre (Bella Center Copenhagen) and the Bella Center metro station, providing swift access to the Copenhagen city centre and Copenhagen Airport. The remaining part of the residential properties are in the process of being finalised and will include retail in the form of Føtex Food, Netto, several cafés and restaurants, a pharmacy and other convenience stores, amongst others. A vibrant local neighbourhood is under development, including Copenhagen’s future workplaces in the form of high-quality, flexible and modern office buildings constructed with a strong focus on sustainability.

“We have sold a prime real estate product which has proven itself by being fully let, in what is becoming one of the most attractive residential areas in Copenhagen. The whole development around “Bellakvarter” is exceptional, with its central location and high attraction rate, which has created a significant investment potential,” said Henrik Olejasz Larsen, CIO at Sampension.

“We became part of the project because we considered it to be a good investment. But also, because we wanted to take part in the development of an attractive new area of Copenhagen. It is enormously satisfying for us that we have succeeded in both parts", said Jens Munch Holst, CEO at AkademikerPension.

“In spite of the notable shift in the European economic and geopolitical environment over the first half of 2022, we strongly believe the fundamentals behind the Copenhagen residential market remain supportive”, said Martin Weikamp, Head of Real Estate Transactions for the Nordics at DWS. “We continue to look for attractive investment opportunities in the Danish residential market, including development projects and assets in need of larger refurbishments to achieve attractive returns for our investors.” 

Earlier this year, DWS acquired a land plot and entered into a development project for 445 residential apartments in the municipality of Herlev.

Bellakvarter A/S was represented by Colliers and law firm Gorrissen Federspiel.