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ALFA Development sells iconic property in Copenhagen to PenSam

20
Dec2023

ALFA Development has sold the iconic property located at Njalsgade 17-23 in the heart of Copenhagen Denmark to the pension fund PenSam. The buildings, erected in 1907, originally served as the headquarters for FDB - a 20th century leading retail group in Denmark. Today, the property house 78 attractive commercial leases spanning over more than 26,000 square meters and including parking and recreational areas.

"The converted warehouses on Islands Brygge is a unique property in Copenhagen and part of the history of the city. It has soul, an attractive sustainability profile, an ideal location and we were pleased to see the great interest in bidding on the property. It is therefore with great pleasure that we now hand over the ownership to a solid and reputable new owner, the pension fund PenSam. In return, ALFA Development will receive extensive additional resources to further pursue our ambitious growth strategy and acquire suitable land for residential mid income building plots in Greater Copenhagen, Stockholm, the Skåne region and Aarhus. As a central part of our offering in future mid-income neighborhoods, we will also expand our unique serviced living concept, LIVING BY ALFA," states Andreea Kaiser, owner and Group CEO of ALFA Development.”

PenSam sees significant opportunities in the Njalsgade buildings. "The investment complements PenSam's portfolio of city properties. It aligns with our goal to strengthen our portfolio with high-quality properties in strategic locations, both within the office and residential sectors. The property has a robust sustainability profile and will contribute to ensuring a stable and attractive return for our 480,000 pension customers. We would like to thank ALFA Development for a professional and smooth process," says Jeppe Starup, Head of Private Capital and Real Assets at PenSam.

ALFA Development has completed the sales process with assistance from the advisors, Cushman & Wakefield | RED, who have ensured a professional and successful process. The parties have chosen not to disclose the sale price."

Form more information
pr@alfadev.dk
Tel.: +45 39 200 250

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