KanAm buys Danske Bank headquarters in Copenhagen

KanAm Grund Group has acquired the King Square site in Copenhagen for the German pension fund Ärzteversorgung Westfalen-Lippe. The 49,000 sqm portfolio of lettable space is located next to the the central King’s New Square (Kongens Nytorv) including a portfolio of 15 buildings built between 1796 to 1971. All but one (a parking garage) are office buildings occupied by Danske Bank which is planning to move out. Once it does so, the plan is to refurbish and redevelop the buildings into a mix of office, retail, hotel and private living space. The property was sold by Aberdeen Standard Investments. The seller was advised by Capital Investment and CBRE during the transaction. The buyers were advised by Colliers Accura, KPMG, McDermott Will & Emery, Cowi and Howden Group. The sales price is being kept under wraps.