Danish pension fund AP Pension has sold its share in the Randers Storcenter shopping centre to co-owner Danske Shoppingcentre, jointly owned by Danish pension funds Danica Pension and ATP.
Financial details were not disclosed.
Randers Storcenter offers 58 shops and is located in the retail district of Paderup, south of Randers, in Denmark. Accounting for roughly 50% of the shopping centre, the divested share is let to Salling Group, which opened a 10,000 m2 Bilka store in August 2018.
'We have been happy to have owned almost half of Randers Storcenter. It has helped to provide our members with attractive returns over the years, but as a natural consequence of our portfolio management and investment strategies, we consider all purchase offers that we get, and in this instance we were given an offer that made both parties happy with the deal,' said Peter Olsson, managing director of AP Pension.
Danske Shoppingcentre owns and runs 17 shopping centres in Denmark.
'The acquisition is aligned with our strategy concerning major shopping centres, and we look forward to being part of the continued process to develop Randers Storcenter,' added Michael Nielsen, managing director of Danske Shoppingcentre and day-to-day top executive with ATP Ejendomme.
Earlier this year, Danske Shoppingcentre acquired the Danish shopping centre of Herning Centret.
Colliers International facilitated the transaction.