STOCKHOLM, July 12, 2017 /PRNewswire/ --
Catella Corporate Finance acted as exclusive financial advisor to MT Højgaard in the forward-funding sale of an approx. 19,000 sq.m. residential development project in the Copenhagen harbor area.
MT Højgaard, one of the leading construction and development companies in Scandinavia, has agreed with the German real estate investor Patrizia to transact and develop the residential project "Project ACMV" located at A.C. Meyers Vænge at Teglholmen in Copenhagen's South Harbor.
"As one of the most active investors in Copenhagen, Patrizia continues to demonstrate trust in the long-term growth of Copenhagen, and we are pleased to have found a solution to this interesting development project that is attractive for both MT Højgaard and Patrizia", says Jesper Bo Hansen, Head of Corporate Finance at Catella.
The transaction was structured through a forward-funding model, where Patrizia has acquired the project, and will act as owner during the construction phase. MT Højgaard will as turnkey contractor deliver the project to Patrizia in stages during 2019.
The development project consists of approx. 19,000 sq.m., including 120 residential apartments and 56 residential townhouses as well as common areas, green spaces and a few commercial units.
"We appreciate the trust and the mandate given to Catella by MT Højgaard. Copenhagen, and particularly the Copenhagen Harbor, is in a process of change; former trade and urban industrial areas are being transformed into vibrant residential neighborhoods. This, too, goes for Copenhagen's South Harbor, whose growth is being stimulated further by the expansion of the Copenhagen subway", says Jesper Bo Hansen, Head of Corporate Finance at Catella.
Catella is a leading specialist in property advisory and investments, fund management and banking, with operations in 12 European countries. The group has sales of approximately EUR 211million and manages assets of approximately EUR 16 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.
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SOURCE Catella - Corporate Finance