Swedish property firm Balder has acquired a residential portfolio in Copenhagen in a deal worth SEK 1.3 bn (EUR 145 mln).

The transaction was closed on 31 December. It involved 523 apartments in Österbro, a residential neighbourhood in central Copenhagen. Constructed in 1995, the assets provide a total lettable area of 43,500 m2.

The investment is in line with Balder's strategy of owning residential properties in growing locations, and maintaining the balance between commercial and residential property. 'We are excited to be able to complete our tenure with attractive housing in prime locations in Copenhagen, at a price as compared to Swedish conditions are very favourable. The properties have a major long-term potential for value creation,' said Balder's CEO Erik Selin.

Catella Denmark advised on the sale.