Danish pension funds ATP and PensionDanmark are selling four retail properties housing the upmarket department store chain Magasin back to the retailer’s owners for an undisclosed sum.
The pension funds said in a joint statement that the properties on Kongens Nytorv in Copenhagen, in Lyngby, Aarhus and Odense, were now being sold back to the department store’s owners, after more than a decade in the hands of ATP Real Estate and PensionDanmark.
Peter Fabricius, Magasin’s chief executive officer said the buyback of the four properties had long been at the top of the company’s wish list.
“It is our clear opinion that customers continue to prioritise physical trade, and with the ownership, this means that we can now develop and invest long-term,” he said.
Source: realassets.ipe.com on the 26th of October 2022
https://realassets.ipe.com/news/atp-pensiondanmark-sell-four-department-stores-back-to-chain/10062951.article