On behalf of companies belonging to the AXA Group, AXA Investment Managers has invested DKK 1.3bn in Copenhagen residential properties, namely a portfolio of some 36,000 sq m residential space in the Bellakvarter neighbourhood of the Ørestad district. The seller is Bellakvarter A/S, the domestic company heading the new attractive residential development scheme at the Bella Center exhibition centre.
With earned premiums of about EUR 100 billion, AXA is the second-largest insurance company in the world. The Copenhagen investment amounted to approximately DKK 1.3 billion. Colliers was sell-side advisor.
“This transaction helps to reconfirm that attractive Copenhagen residential rental properties continue to attract demand from important international property investors. In 2019 to date, Colliers has brokered the sale of existing and turnkey residential properties worth about DKK 3 billion to large European insurance companies and pension funds, and we see sustained strong investor appetite for new residential property assets and projects that match the quality features of the portfolio at hand”, says CEO Peter Winther, Colliers.
“The new residential area at Bella Center will see the development of high-quality housing in line with a strong masterplan involving highly attractive urban features for the benefit of residents and, by extension, investors. We have been delighted to assist Bellakvarter A/S in the transaction”, states Jacob Bruun Borring, Manager with Colliers Capital Markets.
Bellakvarter A/S is backed by Solstra Capital Partners, which in 2012 acquired the Bella Center exhibition centre, which the new neighbourhood will evolve around. The vision is to create a vibrant urban setting, strongly inspired by the design of the Copenhagen districts bordering on the CBD.
The portfolio comprises four properties located at Bellakvarter, Ørestad:
- Dea Trier Mørchs Vej 1, etc. - Halldorhus
- Dorris Lessings Vej 2
- Emma Gads Vej 6, etc. - Laxnesshus
- C.F. Møllers Allé 97, etc. – Organistens Hus
+45 28 19 66 76
Jacob Bruun Borring
Manager, Capital Markets
+45 31 34 80 33