Klövern AB bought an office asset in central Copenhagen for an underlying value of 1.44 billion Danish kroner.
The property contains approximately 31,000 square meters of leasable area and roughly 10,000 square meters of garage space, according to a release. The asset is 98% occupied and generates 65 million kroner in rent per year, with Codan as its anchor tenant.
The transaction will primarily be funded via bank loans and is scheduled to close March 1.
As of Feb. 15, US$1 was equivalent to about 5.97 Danish kroner.