The joint venture of Urban Partners, AG Gruppen, and Nordea Pension Ejendomme has successfully completed the sale of the Banehaverne residential project to M&G Real Estate. Banehaverne covers an area of 56,000 sqm and comprises 667 rental apartments. The property is located on the border between Glostrup and Brøndby, representing the transformation of a former industrial site into a residential area. This was undertaken with a focus on transport links, urban amenities, and integration with nature.
Thomas Riise-Jakobsen, Head of Denmark at Urban Partners, noted close cooperation and great trust throughout this project, particularly due to the interaction with two municipalities given its geographical location. He expressed pride in the joint achievements with AG Gruppen and Nordea Pension Ejendomme, as well as the contribution to the area's development. The transaction itself reflects continued demand for quality residential properties in the Greater Copenhagen area, especially in well-connected suburban districts.
Banehaverne is divided into six residential buildings, arranged around landscaped courtyards and connected by a central pathway. The concept integrates communal outdoor spaces, community rooms, and diverse apartment types to support residents' daily lives and foster interaction within the community. The project has been certified to the DGNB Gold Standard, underscoring its emphasis on energy efficiency and long-term sustainability.
Flemming Engelhardt, CEO of Nordea Pension Ejendomme, stressed that he had overseen the entire process, from land acquisition, development, leasing, and operation through to the sale. He highlighted that the cooperation between the partners involved had led to outstanding results, as different competencies and perspectives were brought together. Each participant made a significant contribution, which is reflected in the final product. Bjarke Windeløv Graae, CEO of AG Gruppen, was delighted by the recognition of the project's value by an international investor like M&G. AG Gruppen had pursued a clear vision for the site almost ten years ago, which was realised through the cooperation with Urban Partners and Nordea Pension Ejendomme.
Robert Göthe, Head of Nordics at M&G Real Estate, described Banehaverne as a high-quality, sustainable residential property that fits into the company's Nordic portfolio. He referred to a shortage of adequate new rental apartments in the Greater Copenhagen area, which makes this market attractive for long-term investors. M&G Real Estate manages logistics, residential, retail, and office properties worth over one billion EUR in the region. The M&G European Property Fund is therefore broadly diversified in the Nordic countries, with approximately 18 percent of its exposure in these markets.
Advisory services for this transaction were provided by Accura, PwC, Howden, and Colliers for Urban Partners, AG Gruppen, and Nordea Pension Ejendomme.
