Skanska divests rental residential project in Herlev, Denmark, for DKK 737M, about SEK 1.1 billion

Rhea-AI Summary

Skanska has sold the Hørkær Have rental project in Herlev, Denmark, for DKK 737 million (approximately SEK 1.1 billion) to NREP. The transaction is recorded in the second quarter of 2024, with project completion expected in June 2025. The development spans 22,720 square meters and includes 264 rental apartments and parking spaces, featuring electric car charging stations. Additionally, a green garden and community building are planned, supporting biodiversity and offering tenant amenities. The first apartments will be available by December 2024, with the entire project pre-certified at DGNB Gold level.

Positive

• The divestment of DKK 737 million (SEK 1.1 billion) boosts Skanska's financials.
• The project includes 264 rental apartments, a substantial addition to local housing.
• The site is located near central transportation hubs, enhancing its attractiveness.
• The green garden and sustainable features support biodiversity and environmental goals.
• The project is pre-certified DGNB Gold, indicating high sustainability standards.
• Electric car charging stations demonstrate forward-thinking infrastructure.

Negative

• The project's completion is not expected until June 2025, indicating a long-term investment.
• There may be risks associated with construction delays or cost overruns.

STOCKHOLM, June 12, 2024 /PRNewswire/ -- Skanska has divested the multi-family rental project Hørkær Have in Herlev, Denmark, for DKK 737M, about SEK 1.1 billion. The buyer is NREP. The transaction will be recorded in the Commercial Development stream in the second quarter of 2024. The transfer will take place in connection with completion, which is planned for the second quarter of 2025.

The project is located in central Herlev near the train station and the upcoming light rail stations to Copenhagen. It covers 22,720 square meters and will consist of 264 rental apartments accompanied by as many parking spaces surrounding the building, which will all be prepared for loading stations for electric cars.

Instead of a traditional courtyard with parking spaces a common green garden will be built, planted according to research on the site and in the local area to support biodiversity among plants, insects, birds and other animals. The garden will be watered with collected rainwater. A building in the middle of the garden will offer the tenants rooms for meetings, activities and "work-from-home"-facilities. The project is pre-certified according to the green certification DGNB, level Gold.

The first apartments will be ready for occupation by December 2024. The project is expected to be completed by June 2025.

For further information please contact:
Peter Nymann-Joergensen, Managing Director, Skanska A/S, tel +45 21 68 61 02
Andreas Joons, Press Officer, Skanska Group, tel +46 (0)10 449 04 94
Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-divests-rental-residential-project-in-herlev--denmark--for-dkk-737m--about-sek-1-1-billion,c3999383

The following files are available for download:

https://mb.cision.com/Main/95/3999383/2859290.pdf	20240612 DK divestment residential project
https://news.cision.com/skanska/i/image-1---dk-hoerkaer-have,c3309530	Image 1 - DK Hoerkaer Have
https://news.cision.com/skanska/i/image-2---dk-hoerkaer-have,c3309531	Image 2 - DK Hoerkaer Have
https://news.cision.com/skanska/i/image-3---dk-hoerkaer-have,c3309532	Image 3 - DK Hoerkaer Have

 

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SOURCE Skanska

FAQ

What is the value of Skanska's divestment in Herlev, Denmark?

Skanska divested the Hørkær Have project for DKK 737 million (about SEK 1.1 billion).

When will Skanska's Hørkær Have project be completed?

The project is expected to be completed by June 2025.

What is the size of the Hørkær Have project in Herlev?

The project covers 22,720 square meters and includes 264 rental apartments.

What sustainability certifications does the Hørkær Have project have?

The project is pre-certified according to the DGNB Gold level.

When will the first apartments in the Hørkær Have project be available?

The first apartments will be ready for occupation by December 2024.

Who bought the Hørkær Have project from Skanska?

The buyer of the Hørkær Have project is NREP.

What unique features does the Hørkær Have project offer?

The project features a green garden, electric car charging stations, and a community building for tenant amenities.