AP Pension sells share of Randers Storcenter

AP Pension sells its share of Randers Storcenter to co-owner Danske Shoppingcentre, jointly owned by Danica Pension and ATP. The purchase price is a "substantial three-digit million sum", reveals AP Pension in its press release. Colliers International facilitated the transaction.

Accounting for roughly 50% of the shopping centre, the diversted share is let to Salling Group, opening a 10,000 sqm Bilka store in August 2018. The sale provides AP Pension and its pension-fund members with a substantial million kroner return, so it appears.

"We have been happy to have owned almost half of Randers Storcenter. It has helped to provide our members with attractive returns over the years, but as a natural consequence of our portfolio management and investment strategies, we consider all purchase offers that we get, and in this instance we were given an offer that made both parties happy with the deal", says Peter Olsson, Managing Director of AP Pension, in the press release.

Danske Shoppingcentre owns and runs 17 shopping centres in Denmark and has a long-term interest in retaining its ownership of Randers Storcenter, as it matches the company's strategy, so the press release continues.

“We have closed a deal that is perfectly agreeable to both parties. The acquisition is aligned with our strategy concerning major shopping centres, and we look forward to being part of the continued process to develop Randers Storcenter”, says Michael Nielsen, Managing Director of Danske Shoppingcentre and day-to-day top executive with ATP Ejendomme.

 

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Peter Winther
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peter.winther@colliers.com